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Lennar Corporation Message Board

  • getintoh20 getintoh20 Feb 6, 2014 7:01 AM Flag

    Goldman Sachs upgraded Lennar from Neutral to Conviction Buy Pt $48

    Goldman Sachs upgraded Lennar (NYSE: LEN) from Neutral to Conviction Buy with a price target of $48.00 (from $38.00).

    "We believe the market is valuing LEN almost exclusively for its core homebuilder business, while ascribing little value to its ancillary businesses," analyst Eli Hackel comments. "We did a sum of the parts that shows $37 of the current ~$40 price can be explained by core homebuilding, with an additional $16 of value from its other businesses. We did a deep dive on FivePoint communities, Rialto and Multifamily, including modeling out the profitability and value creation of each business, driving our estimates higher and putting us 2%/9% above Street EPS in 2014/2015."

    The firm expects new home sales growth to accelerate to 20% by 4Q14 from only 5% in 1Q14.

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    • We love Goldie.

    • Everyone knows you should exactly the opposite of what GS recommends. They sell when they tell you to buy. What was GS doing when their clients were buying MBSs? Remember when they said oil was going to climb in price when it was at almost $150 a barrel? Within a few short months the price was below $50 a barrel. I bet they lost money on that trade, NOT!

      If I were in Vegas, I'd bet that GS is dumping their LEN shares and is buying gold. They know the taper is going to reap hull on the markets, particularly housing stocks.

    • Poss. By the forth of july, but again the total eco has to be going better, yellen has to do her thing and paint the picture for the rest of us to see , and the pres. Has to keep-his-mouth-shut............

      Sentiment: Hold

    • From Benzinga: "In Thursday's research note, analyst Eli Hackel said, he "believes LEN is at the point where their profits from business operations have become more consistent and predictable."

      Hackel also noted "new home sales growth will accelerate to 20% by 4Q14 and with Lennar being exposed to the best markets, they could be out sized beneficiaries."


      Sentiment: Strong Buy

42.34+0.15(+0.36%)Sep 30 4:01 PMEDT