#lennar #lennarhomes #homebuilder #yahoofinance
Lennar (LEN) received an upgrade from Wedbush Securities from Underperform to Neutral, while keeping the price target unchanged. The analyst behind the call, Wedbush Securities SVP of equity research Jay McCanless, cited Lennar’s potential planned spinoff of its land assets. McCanless joins Market Domination to give insight into his upgrade on the homebuilder and how he feels about the stock’s future. He calls Lennar’s spin-off plan a "land spin" that could "create a just-in-time lot factory for Lennar. When they have a buyer when they want to start a spec home, they could essentially order a finished lot ready to go. And that would allow Lennar to focus on what it does very well, which is build homes, and allow other outside entities to focus on the land development side. As land development has just as many challenges, I would say, is actually getting the homes built." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
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