Here's Why Homebuilder Stocks D.R. Horton Climbed 14% and Lennar Rose 17% in June
Homebuilder stocks D.R. Horton (NYSE: DHI) and (NYSE: LEN) marched higher last month on macroeconomic news that buoyed the housing sector. Thanks to favorable economic indicators and an announcement by the Federal Reserve, D.R. Horton rose 13.9% and Lennar was up 17%, according to S&P Global Market Intelligence.
Lennar reported quarterly earnings in June. Its revenue beat Wall Street's forecasts by roughly 10%, and the company's profits were well above expectations. Lennar also shared a positive outlook for the housing sector, indicating that demand is normalizing after years of disruption.
D.R. Horton didn't have any meaningful news in June, but investors reacted to its peers' earnings, along with important macroeconomic news that corroborated Lennar's forward-looking commentary.
Source Fool.com
Lennar Corp. A Stock
Currently there is a rather positive sentiment for Lennar Corp. A with 21 Buy predictions and 8 Sell predictions.
However, we have a potential of -3.56% for Lennar Corp. A as the target price of 150 € is below the current price of 155.54 €.
