Amid a downdraft for homebuilder stocks Thursday, an analyst launched coverage on the sector with a series of mostly lukewarm ratings.
Morgan Stanley launched coverage of Lennar Corporation LEN, rating the company at Outperform and painting a $54 price target.
Earlier, Lennar beat fourth-quarter earnings expectations, but like KB Home KBH on Wednesday, warned of narrower 2015 profit margins.
Lennar changed hands recently down more than 5 percent at $43.40; KB was off nearly 7 percent at $12.61.
Morgan Stanley initiated coverage on KB Thursday with an Underweight rating and $14 target.
Other homebuilders rating new coverage from Morgan Stanley, all at Equal-Weight, include Toll Brothers Inc TOL with a $39 target; D.R. Horton, Inc. DHI at a $27.50 price target and PulteGroup, Inc. PHM with a $24 target.
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