Downgrades Pressure Homebuilding Stocks
Lennar(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 $164 from $174 and $156 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 m ...