Real Estate, Markets, Lennar Corp, Jpmorgan Chase & Co

Real Estate, Markets

JPMorgan upgrades Lennar, sees nearly 50% upside amid hot housing market and potential buybacks

JPMorgan upgraded the homebuilder stock to overweight from neutral.

6/18/2021 1:38:00 PM

New for subscribers: JPMorgan upgrades Lennar, sees nearly 50% upside amid hot housing market and potential buybacks. Check out CNBCPro today.

JPMorgan upgraded the homebuilder stock to overweight from neutral.

Share Article via EmailA "Sold" sign is displayed outside a home under construction at a Lennar Corp. development in Montgomery, Illinois.Daniel Acker | Bloomberg | Getty ImagesThe market is undervaluingLennar's internal improvements and potential in a hot housing market, according to JPMorgan.

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The homebuilder reported its second quarter earnings on Wednesday, delivering revenue and earnings per share above expectations, according to FactSet. The company also raised its guidance for average sales prices and gross margins. Read more: CNBC »

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The housing market is so hot buyers are paying $1 million over asking priceIn many hyper-competitive markets where all-cash offers that are well over the asking price are standard fare, buyers have found some jaw-dropping ways to stand out. I'll wait for the inevitable crash, thank you...

Exclusive: JPMorgan is calling for reforms to stop racial bias in housingJPMorgan is for the first time outlining specific legislation that can fight appraisal bias, backing the study of innovative ways to value homes and promoting efforts to boost sorely needed diversity in the appraisal industry.

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Rising cost of steel, lumber and copper is hampering homebuilding — and pushing house prices out of reachHouse prices have increased by the most in more than 15 years on an annual basis, raising concerns that some first-time buyers could be priced out of the market. They were already out of reach for most. misleading headlines this is a story about home sales not prices of building supplies Let the Chinese prefab your homes - much cheaper

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