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Morgan Stanley Adjusts Lennar Price Target to $58 From $65

Morgan Stanley has revised its price target for Lennar Corporation, lowering it from $65 to $58.

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    The U.S. housing industry is struggling with pending home sales down 7.3% month-over-month and 11.3% year-over-year, causing investors to flee homebuilder stocks. However, Berkshire Hathaway is making significant investments in the sector, including acquiring Taylor Morrison for $6.8 billion and increasing its stake in Lennar to 11%. Berkshire CEO Greg Abel views the 10-million-home housing shortage as a long-term opportunity, though he cautions recovery won't be quick. The article suggests ordinary investors should consider buying Berkshire shares rather than directly investing in homebuilders given the volatility and patience required.

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