Lennar ( LEN) is one of the largest and most geographically diverse U.S. homebuilders, with operations in 15 states. It also provides title and mortgage-related services, is involved in about 50 joint ventures, and owns a distressed real estate unit Rialto Investments. Lennar's shares have rallied 24% in the past three months, and though they're in the hole 10% this year, they're up 13% over the past 12 months. Morningstar has a $26 price target on it, a 53% premium to its current price. Morningstar analysts said in a recent research note that Lennar's third-quarter results "indicate that no other public builder is currently operating on a higher plane. Roughly flat revenue, strong gross margins, and increased deliveries and orders make Lennar's recent performance really stand out."