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Fly News Breaks for September 28, 2015
LEN
Sep 28, 2015 | 08:15 EDT
Morgan Stanley raised Lennar's 2015 estimates following a management meeting based on gross margin improvement despite lower growth. Analyst Haendel St. Juste believes Lennar's platform will enable it to outperform in a choppy market and enables it to smoothly deliver homes at the highest margins undercoverage. St. Juste would use the recent pullback as a buying opportunity and reiterates his Overweight rating and $55 price target on shares.
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