Lennar price target lowered to $127 from $139 at Citi

Citi lowered the firm’s price target on Lennar (LEN) to $127 from $139 and keeps a Neutral rating on the shares. The stock fell 4% following a fiscal Q1 beat due to “disappointing” Q2 margin guidance on higher incentives, the analyst tells investors in a research note. Citi reduced earnings estimates through fiscal 2027 to reflect weaker demand and margins.