UPDATE: Susquehanna Downgrades Lennar
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
|Feb 2017||BTIG Research||Initiates Coverage On||Buy|
|Jan 2017||Barclays||Initiates Coverage On||Overweight|
|Nov 2016||Evercore ISI Group||Initiates Coverage On||Buy|
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