Why This Lennar Analyst Is No Longer Bullish Despite Potential Rate Cut Benefits
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Susan Maklari downgraded Lennar Corp (NYSE:LEN) from Buy to Neutral, reducing the price target from $180 to $174. Despite potential benefits from rate cuts and a focus on entry-level buyers, the stock's recent outperformance suggests it may remain range-bound in the near term. Lennar's proposed spinoff of land assets could impact its valuation over time.
July 22, 2024 | 2:28 pm
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Goldman Sachs downgraded Lennar Corp from Buy to Neutral, reducing the price target from $180 to $174. The stock's recent outperformance and potential benefits from rate cuts are already reflected in its valuation, suggesting it may remain range-bound in the near term.
The downgrade from Buy to Neutral and the reduced price target indicate a less bullish outlook. The stock's recent outperformance and the potential benefits from rate cuts are already priced in, suggesting limited short-term upside.
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