Home builder Lennar Corporation (LEN) on Monday caught a big upgrade from analysts at Guggenheim Partners.
The firm said it boosted its rating on LEN from “Neutral” to “Buy” with a $39 price target. That new target suggests a potential 37% upside to the stock’s Friday closing price of $28.45. Guggenheim noted that low new home supplies are helping the company raise prices.
Lennar shares, which have risen 45% year-to-date, posted small losses in premarket trading Monday.
The Bottom Line
Shares of Lennar (LEN) have a .56% dividend yield, based on Friday’s closing stock price of $28.45. The stock has technical support in the $24-$26 price area. If the shares can firm up, we see overhead resistance around the $31-$35 price levels.
Lennar Corporation (LEN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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