Lennar: Wedbush upgrades stock

(CercleFinance.com) - Wedbush has upgraded Lennar shares from "underperform" to "neutral", as the housebuilder's shares have fallen below its target price, which remains $144; the broker also sees no potental catalyst to adjust its TP.


Regarding a possible land split, for which the group has no timetable, Wedbush estimates that the potential size of the operation could now be between six and eight billion dollars, compared with an initial estimate of $4bn.


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