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Raymond James analyst Buck Horne raised the firm's price target on Lennar to $75 from $41 and keeps an Outperform rating on the shares to reflect the "remarkable" recovery in new home demand since late April. Lennar's fortuitous market positioning and efficient high-volume production methods should enable further market share gains, Horne tells investors in a research note.

RBC Capital analyst Michael Dahl raised the firm's price target on Lennar to $68 from $61 after its Q2 results and FY20 guidance update. The outlook may disappoint high buy-side expectations, but the company's strong margins should gain investor focus, the analyst tells investors in a research note. Dahl adds that Lennar's June trends imply that if current demand persists, the management's order guidance could end up being conservative. The analyst further states that while the homebuilder is well positioned, share are trading closer to fair value, as he keeps his Sector Perform rating on the stock.

Wells Fargo analyst Truman Patterson raised the firm's price target on Lennar to $72 from $67 and keeps an Overweight rating on the shares. While the analyst believes the company and the market's near- and long-term prospects remain favorable for a variety of reasons, the path in which it gets there could be choppy. Overall, Patterson thinks Lennar's internal cost reduction/efficiency initiatives are driving sustainable gross margin improvements.

Credit Suisse analyst Adam Baumgarten raised the firm's price target on Lennar to $71 from $62 and keeps a Neutral rating on the shares. The analyst notes that the company has seen order growth improve both month-over-month and year-over-year in May and June, with June net order growth up over 20% year-over-year versus 7%-plus in May. The improvement in orders was also met with higher pricing and reduced incentives, driving backlog gross margins higher than the levels generated for Q2 deliveries, he adds.

Barclays analyst Matthew Bouley raised the firm's price target on Lennar to $70 from $63 and keeps an Overweight rating on the shares. The company's Q2 results and reinstated 2020 guidance demonstrates a "strong margin outlook and appropriately conservative" orders and closings assumptions, Bouley tells investors in a research note.

BTIG analyst Carl Reichardt raised the firm's price target on Lennar to $75 from $70 and keeps a Buy rating on the shares after its Q2 results and FY20 guidance update. While the company guided to down orders in the second half of FY20, the analyst sees "likely upside" to that outlook, adding that annual growth should resume in Q2 of next year. Reichardt further states that Lennar's efforts to improve its business are "tangibly" appearing in gross margin, which expanded 150bps from last year.

Keefe Bruyette analyst Jade Rahmani raised the firm's price target on Lennar to $75 from $56 and keeps an Outperform rating on the shares. Following the company's fiscal Q2 report, the analyst increased forward estimates for Lennar by 40%, incorporating the reinstated 2020 guidance and a "stronger" recovery. Management's commentary was cautiously optimistic, citing a 20% increase in orders in the first half of June and indications of a potential shift in demand for suburban housing and new homes, Rahmani tells investors in a research note.