Citigroup analyst Anthony Pettinari has maintained a Neutral rating on Lennar (NYSE: LEN) while lowering the price target for the stock. The revised target stands at $88, down from the previous $104.

The adjustment reflects a reassessment of the company's valuation and market conditions. Lennar operates in the homebuilding sector, and the new target suggests a more conservative outlook on its near-term performance.

Rating and Target Details

The Neutral rating indicates that Citigroup expects Lennar's stock to perform in line with the broader market. Investors should note the significant reduction in the price target, which may influence sentiment around the stock.

Lennar, one of the nation's leading homebuilders, has announced the debut of Manhattan Square, a new gated master-planned community in Carson, California. The development is now pre-selling, offering 351 condominiums and townhomes with prices starting in the mid $700,000s. Located off Interstate 405 and Avalon Boulevard, the project aims to expand access to homeownership in the South Bay while contributing to the area's revitalization.

Manhattan Square features four home collections: Brixton, Chelsea, Madison and Ellison. These homes offer two to four bedrooms with open-concept layouts, ranging in size from 1,229 to 2,066 square feet. The community includes amenities such as a pool and curated common areas designed to foster connection and everyday living.

Every home at Manhattan Square includes Lennar's Everything's Included promise, which incorporates popular features and finishes into the base price. Standard features include stainless steel kitchen appliances, quartz countertops and Shaker-style cabinetry with soft-close hinges. The grand opening of the Ellison, Madison and Chelsea model homes is scheduled for Saturday, July 11 from 10 a.m. to 2 p.m. at the Manhattan Square Welcome Home Center.

"Manhattan Square represents an exciting new chapter for Carson — one that brings much-needed homeownership opportunities at exceptional price points to one of the South Bay's most connected and sought-after locations," said John Lavender, Division President of Lennar's California Coastal Division. He emphasized the rarity of attainable homeownership opportunities in Southern California and expressed excitement about bringing the project to Carson.

The community offers proximity to key destinations such as Dignity Health Sports Park, SouthBay Pavilion and nearby beaches including Redondo Beach and Hermosa Beach. With access to the 405 freeway, residents can commute to LAX and other parts of the South Bay. For more information, interested buyers can call 877-350-2892 or visit the community website.