Opinions
Jim Cramer - Mad Money
Lennar Corp.
LEN-N
BUY
Sep 13, 2024
Stock price when the opinion was issued
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Premium contentOur PAST TOP PICK with LEN has triggered its stop at $149. To remain disciplined we recommend covering the position at this time. This will result in a net investment gain of 2%, when combined with our previous buy recommendations.
Still holds. Last month brutal for homebuilders. Though interest rates drifting lower, clear that won't be going as low or as fast as the market first thought. So the interest-sensitives are being punished. Yet mortgages are going up, somewhat negative for homebuilders.
Long US mortgages cause resale market to dry up, but will eventually force home buyers to homebuilders. He's looking closely to see if this is an opportunity to increase his holding in homebuilders.
Premium contentLennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding, Financial Services, Multifamily, and Lennar Other. The Homebuilding segment refers to the construction and sale of single-family attached and detached homes and the purchase, development, and sale of residential land directly and through entities. The Financial Services segment focuses on mortgage financing, title, and closing services for buyers. Social media mentions are up 1467% in the past 24h.
They report Thursday. He expects the homebuilder to tell a terrific story. If the Fed cuts 50 basis points the day before, LEN could be a terrific place to be.