BofA Securities Analyst Projects Millrose Spin-Off To Weigh On Lennar's Earnings, Cuts Price Target - Lennar (NYSE:LEN)

BofA Securities Analyst Projects Millrose Spin-Off To Weigh On Lennar's Earnings, Cuts Price Target - Lennar (NYSE:LEN)

BofA Securities analyst Rafe Jadrosich updated the price forecast for Lennar Corp (NYSE:LEN) to reflect the impact of the weak housing market and the Millrose Properties spin-off. The analyst slashed the price forecast to $130 from $140 while retaining a Neutral rating. Last month, the company completed the spin-off, contributing $5.5 billion in land assets and $1.0 billion in cash. Jadrosich noted Lennar will pay Millrose an annual option fee o…