UPDATE: Goldman Sacks Upgraded Lennar Corporation From Neutral to Conviction Buy, PT Raised to $48

Goldman Sachs upgraded Lennar Corporation

from Neutral to Conviction Buy and raised the price target from $38 to $48. In Thursdays research note, analyst Eli Hackel said, he "believes LEN is at the point where there profits from businesses operations have become more consistent and predictable." Hackel also noted "new home sales growth will accelerate to 20% by 4Q14 and with Lennar being exposed to the best markets, they could be out sized beneficiaries." Following the upgrade, shares of LEN are up almost 5 percent at $41.42.