Lennar (LEN) NewsBite - Upgrade Boosts Lennar

Posted on Tuesday, July 15, 2008 1:28 PM

Lennar Corp. (LEN) opened at 10.35. So far today, the stock has hit a low of 9.33 and a high of 11.01. LEN is now trading at 10.72, up 0.48 (4.64%). The stock hit its 52 week high of 37.09 in August and set its 52 week low of 9.33 today. LEN has been generally down for the past year. Lennar shares have been soaring as a UBS analyst upgraded the stock to "Neutral" from "Sell." Technical indicators for the stock are bearish and steady while S&P gives LEN a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a November bull-put credit spread below the $7.50 range. LEN stock could fall up to 30% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]