Loading...
Loading...
Citigroup lowers its rating on Lennar
LEN from Neutral to Sell and reduces its price target from $26 to $22.
Citigroup notes, "We assume coverage on LEN shares with a Sell rating and $22 target price based on normalized earnings and (relative) forward P/TBV (1CQ13) valuation analysis, highlighted earlier in this report. We see LEN as a good company with a stretched valuation. More specifically, post solid year/date gains, we expect pressure on LEN's P/TBV of 1.9x which is at premium to peers versus its normal 11% discount (2-year median)."
LEN closed at $26.29 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsCitigroupConsumer DiscretionaryHomebuilding
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in