Toll Brothers price target raised to $105 from $90 at Wells Fargo

Wells Fargo raised the firm’s price target on Toll Brothers to $105 from $90 and keeps an Overweight rating on the shares. The firm notes Toll Brothers’ shares are up 32% vs late October, but it still sees room to run post Q4 EPS as quarter-to-date trends are “solid” and FY24 guide is doable. At 7-times, Toll Brothers is undervalued, says Wells.