Downgrades Pressure Homebuilding Stocks
LENLennar(LEN) Schaeffers Investment Research·2024-07-02 23:04

Homebuilding stocks Lennar Corp (NYSE:LEN) and DR Horton Inc (NYSE:DHI) are lower today, after Citigroup downgraded both names to "neutral" from "buy," while also trimming their price targets to 164from164 from 174 and 156from156 from 181, respectively, due to their risk/reward ratios. LEN also was downgraded by Raymond James to "market perform" from "outperform." Lennar stock was last seen down 2.4% to trade at $142.38, and earlier hit its lowest level since December. The equity is poised to close below its 200-day ...