LEN was recommended as a Top Pick for 2012 by Cabot Market Letter at $22.03 in Investment Digest issue 711, dated January 18, 2012.
“Lennar Corp. (LEN, $35) took a hit following its earnings announcement Monday morning; the numbers were fantastic (sales up 34%, earnings up 82% and a backlog nearly twice what it was a year ago), and longer-term, we think the housing rebound has much further to run. However, housing stocks have been running for about a year and have been leading throughout all of 2012. Combine that extended run-up with the heavy-volume decline following earnings this week, and we think it’s prudent to take a few chips off the table here. Thus, we advise selling one-third of your LEN shares here, while holding the rest for what we believe can be a big winner in the long term. SELL ONE-THIRD, HOLD THE REST.”
- Michael Cintolo, Cabot Market Letter, September 26, 2012