Lennar’sbetter-than-expected earnings on Tuesday has reinforced one analyst’s positive view of the housing market's recovery. In a CNBC interview, he detailed a few stocks that could rise alongside the climbing housing market.
The company’s revenue topped Wall Street’s estimates to rise 30 percent to $724.9 million while its new orders rose 33 percent to 3,022 homes — its strongest first-quarter sales since 2008.
“So this is reinforcing our constructive view on the housing market,” said Robert Wetenhall, a RBC Capital Markets homebuilder analyst. “We think the read-through from Lennar , which is an excellent company with terrific management, is also applicable to the broader builders.”