Argus analyst Chris Graja lowered his price target on Lennar to $60 and also lowered his Q4 EPS view by 8c to $2.05 and Q4 home deliveries to 14.5K from 15.0K units. The analyst cites the combination of hurricane disruption and "slightly softer market conditions" in continuation of the company's "slower sales and moderation in traffic" during Q3. Graja keeps his Buy rating on Lennar over the longer-term however, stating that valuation remains attractive based on the company's "solid financial strength, effective use of technology to reduce costs and an excellent offering for first-time buyers". The analyst further cites Lennar's favorable valuation of 1-time book value.