Citi Downgrade of Lennar, DR Horton Drags Home Builder Shares Lower
Lennar(LEN) Investopedia·2024-07-02 16:31Key TakeawaysShares of home builders sank after Citi downgraded Lennar and D.R. Horton and cut the price targets of five firms in the sector.Citi said soft housing data could persist for the rest of 2024.The analysts cut their ratings on both Lennar and D.H. Horton from Buy to Neutral. Shares of several home builders tumbled Tuesday after Citi downgraded Lennar (LEN) and D.R. Horton (DHI), citing concerns about a housing market it says may stay sluggish for the rest of the year. Citi cut its ratings on the ...