Lennar Stock Is Trading Higher Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Lennar Corp (NYSE:LEN) reported better-than-expected Q2 results, with revenues of $8.04 billion and EPS of $2.94. The company delivered 17,074 homes and received 17,885 new orders in Q2. Lennar expects Q3 home deliveries to be between 17,750 and 18,250, with a gross margin of 23.5% to 24%. Wedbush analyst Jay McCanless maintained a Neutral rating and raised the price target from $94 to $123.
June 15, 2023 | 1:10 pm
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Lennar Corp's better-than-expected Q2 results and raised price target by Wedbush analyst may lead to a short-term positive impact on the stock.
Lennar Corp reported strong Q2 results, beating revenue and EPS estimates. The company also has a positive outlook for Q3, with expected home deliveries and gross margin growth. Additionally, Wedbush analyst Jay McCanless maintained a Neutral rating and raised the price target from $94 to $123. These factors may lead to a short-term positive impact on Lennar's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100