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Fly News Breaks for September 19, 2017
LEN
Sep 19, 2017 | 08:39 EDT
As previously reported, Mizuho downgraded Lennar to Neutral from Buy and cut its price target to $53. Analyst Haendel St. Juste adjusted estimates to reflect previously assumed late 2017 closings moving into early 2018 following hurricanes Harvey and Irma. The analyst said Lennar receives approximately 40% of its revenue from the impacted regions and and recommends moving to the sidelines given increased certainty and expected negative impact on operations.
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