Lennar price target lowered to $135 from $181 at Barclays

Barclays lowered the firm’s price target on Lennar (LEN) to $135 from $181 and keeps an Equal Weight rating on the shares. The firm says margin deterioration and weakening fundamentals suggest “continued earnings choppiness” ahead for Lennar. The Millrose spin should drive higher returns over time, but remaining company fundamentals drive the near-term outlook, the analyst tells investors in a research note.