KBW trims Lennar's PT on soft housing outlook

KBW cuts PT on homebuilder Lennar Corporation LEN.N to $105 from $115, still 8.2% upside to stock's last close

Brokerage cites softness in housing market, driven by challenging conditions including cautious consumer sentiment and mixed macroeconomic factors

Last week, LEN reported 1Q26 home deliveries below Wall Street estimates

"While LEN's favorable attributes include operating scale and low financial leverage, we believe margins will be slower to recover than peers as the MRP land cost continues to flow through earnings," KBW says

Three of 20 analysts rate stock "strong buy" or "buy", ten "hold" and seven "sell" or "strong sell"; their median PT is $100 - data compiled by LSEG

Including session's move, stock down 5.9% YTD