Toll Brothers price target raised to $130 from $120 at Wells Fargo

Wells Fargo raised the firm’s price target on Toll Brothers to $130 from $120 and keeps an Overweight rating on the shares. The company outperformed its Q1 expectations for orders and gross margins, while its outlook screens conservative, the analyst tells investors in a research note. Toll Brothers’ long-term outlook further suggests a healthy runway of solid growth and returns, the firm added.