Wells Fargo Initiates Coverage On Lennar with Overweight Rating, Announces Price Target of $123
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Sam Reid has initiated coverage on Lennar (NYSE:LEN) with an Overweight rating and a price target of $123.
October 17, 2023 | 8:55 am
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POSITIVE IMPACT
Wells Fargo has initiated coverage on Lennar with an Overweight rating and a price target of $123, indicating a positive outlook for the company.
The Overweight rating from Wells Fargo indicates that the analyst believes Lennar's stock will outperform the market in the future. The price target of $123 also suggests that the analyst sees significant upside potential for the stock. This could lead to increased investor interest and potentially a rise in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Wells Fargo's analyst has initiated coverage on Lennar with an Overweight rating, reflecting the bank's positive outlook on the company.
While the news is about Wells Fargo's analyst's rating on Lennar, it also reflects on Wells Fargo's research capabilities and its views on the market. However, as this is a common activity for banks and does not directly impact Wells Fargo's own operations or financials, the impact on Wells Fargo's stock is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50