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Fly News Breaks for June 13, 2019
LEN
Jun 13, 2019 | 07:33 EDT
As previously reported, Wedbush analyst Jay McCanless upgraded Lennar to Outperform from Neutral and raised his price target on the shares to $62 from $50. With mortgage rates at 2-year lows, western markets rebounding, and continuing demand for affordable housing by multiple demographic groups, the analyst believes investors should be willing to pay a higher multiple for homebuilder earnings.
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