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Sterne Agee Adjusts Lennar Estimates for Convertible Debt Conversion

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In a report published Friday, Sterne Agee analyst Jay McCanless reiterated a Neutral rating and $40.00 price target on Lennar (NYSE: LEN).

In the report, Sterne Agee noted, “We are reducing our FY14E/FY15E EPS to $2.24/$3.17 from $2.32/$3.31. These changes are strictly related to the conversion of Lennar's 2020 convertible notes into stock yesterday. Our $40 price target is unchanged as is our FY13E EPS of $1.97.”

Lennar closed on Thursday at $34.22.

Latest Ratings for LEN

DateFirmActionFromTo
Jan 2017BarclaysInitiates Coverage OnOverweight
Nov 2016Evercore ISI GroupInitiates Coverage OnBuy
Oct 2016Raymond JamesUpgradesOutperformStrong Buy

View More Analyst Ratings for LEN
View the Latest Analyst Ratings

Posted-In: Jay McCanless Sterne AgeeAnalyst Color Reiteration Analyst Ratings

 

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