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UPDATE: Susquehanna Downgrades Lennar

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On Friday, Susquehanna downgraded shares of Lennar (NYSE: LEN) from Positive to Neutral and lowered the price target from $46 to $43.

The downgrade was valuation-based to better reflect seasonal shifts compared to Susquehanna's October upgrade, said analyst Jack Micenko.

First quarter results were “solid, said Micenko. The analyst is encouraged by “clear signs” of improving volume voiced by Lennar management.

Shares of Lennar are down 1.9 percent to $39.55. The stock is flat year-to-date.

Latest Ratings for LEN

DateFirmActionFromTo
Sep 2016Wells FargoInitiates Coverage onMarket Perform
Sep 2016Keefe Bruyette & WoodsMaintainsOutperform
Sep 2016CitigroupMaintainsNeutral

View More Analyst Ratings for LEN
View the Latest Analyst Ratings

Posted-In: Jack Micenko SusquehannaAnalyst Color Analyst Ratings

 

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