Barclays analyst Matthew Bouley raised the firm’s price target on Toll Brothers to $115 from $95 and keeps an Underweight rating on the shares. The analyst says a rising spec mix is driving a higher sales pace for Toll. However, the company is seeing pressure on selling prices and gross margins, and Toll is also still over-earning from pre-COVID land that should dissipate, the analyst tells investors in a research note.
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