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Lennar: Wedbush upgrades stock

( - Wedbush has upgraded its rating on home construction and real estate group Lennar Corp from "neutral" to "outperform," having raised its corresponding target price from 50 dollars to 62 dollars, anticipating that "investors should be willing to pay a higher multiple for homebuilder earnings".

Behind this upgrade, the broker higlights, "mortgage rates near 2-year lows, key housing sectors rebounding, and continuing demand for affordable housing by multiple demographic groups".

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