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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Berkshire Hathaway takes a major stake in Lennar (NYSE: LEN). Explore the latest premarket stock movement, Q3 results, and technicals.
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Morgan Stanley has revised its price target for Lennar Corporation, lowering it from $65 to $58.
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Lennar stock has declined 20% year-to-date amid a struggling housing market, with Q3 revenue down 9% and earnings down 49%. Wall Street analysts have issued sell ratings with a median price target of $72.50 (15% downside), but Berkshire Hathaway has been accumulating shares, suggesting the stock may be oversold and positioned for recovery once mortgage rates ease and economic conditions improve.
Mortgage payments have surged 97% since 2020, outpacing income as housing affordability pressures homebuilders ahead of midterm elections.