Resale Inventory Drought And Millennial Demographics: Lennar Poised For Multi-Year Benefits, Says Analyst
Portfolio Pulse from Shivani Kumaresan
JMP Securities analyst Aaron Hecht reiterated a Market Outperform rating on Lennar Corp (NYSE:LEN) and raised the price target from $115 to $135. The company's 2Q23 normalized EPS of $2.94 beat the analyst consensus, and the revenue of $8.04 billion beat the consensus of $7.18 billion. The analyst believes that the resale inventory drought and millennial demographics will benefit builders for multiple years.
June 16, 2023 | 6:39 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
JMP Securities analyst Aaron Hecht raised the price target for Lennar Corp (NYSE:LEN) from $115 to $135, citing resale inventory drought and millennial demographics as multi-year benefits.
The analyst raised the price target for Lennar Corp due to the company's strong 2Q23 results, beating both EPS and revenue consensus. The resale inventory drought and millennial demographics are expected to benefit builders like Lennar for multiple years, driving shareholder returns. This positive outlook is likely to have a short-term positive impact on LEN's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100