Brokerages cut Lennar's PT, lower 2025 profit forecast
Multiple brokerages cut PT on U.S. homebuilder lennar Corp LEN.N, citing challenging residential market and lower home deliveries
Co on Monday posted Q2 revenue above analysts' estimates
LEN's production model puts it in tough position inside waning market backdrop, Barclays says
Brokerage expects further risk to co's EBIT margins due to challenged market conditions for new construction
BofA Global Research says housing market is softening due to high mortgage rates and weaker consumer confidence
Expects co's upcoming earnings to be below estimates on higher selling, general and administrative expenses
Several brokerages revise co's 2025 EPS estimate downward; Oppenheimer cuts to $8.94 from $9.23
BofA holds rating at 'neutral'; Barclays reiterates 'equal weight'
LEN shares marginally up at $105 in choppy morning trading
Six of 22 brokerages rate stock "buy" or higher, 16 "hold"; median PT is $128- data compiled by LSEG
Including session's moves, shares down 20.5% YTD
Brokerage | New PT | Old PT |
BofA Global Research | $105 | $110 |
Barclays | $95 | $110 |
RBC | $98 | $122 |
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