Lennar price target lowered to $110 from $121 at Barclays

Barclays lowered the firm’s price target on Lennar (LEN) to $110 from $121 and keeps an Equal Weight rating on the shares post the fiscal Q1 earnings report. The firm sees “cracks in the fundamentals,” saying Lennar’s near-term margins are being hampered by higher incentives and softer pricing as spring demand is not where it needs to be.