Topeka Capital Markets initiated coverage on Lennar LEN with a Hold rating and a $33 price target.
Topeka Capital Markets commented, "Lennar's shares have appreciated approximately 100.0% year-to-date versus 12.1% for the S&P 500. We see potential catalysts on the horizon including Lennar's Rialto operations, the California joint venture projects and improving national housing demand, but we view the shares as fairly valued at current levels."
Lennar closed at $36.29 on Thursday.
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Posted In: Analyst ColorInitiationPre-Market OutlookAnalyst RatingsConsumer DiscretionaryHomebuildingTopeka Capital Markets
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