Citigroup Maintains Buy Rating for Lennar: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of Lennar LEN and lower its price target from $148.00 to $139.00.

Shares of Lennar are trading up 1.14% over the last 24 hours, at $120.02 per share.

A move to $139.00 would account for a 15.81% increase from the current share price.

About Lennar

Based on the number of delivered homes, Lennar is the second-largest public homebuilder in the United States (behind D.R. Horton). The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily construction and has invested in numerous housing-related technology startups.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.