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.
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Read More on TOL:
- TOL Earnings: Toll Brothers Jumps on Q1 Performance, Promising Outlook
- Toll Brothers sees FY24 deliveries 10,000-10,500 units
- Toll Brothers sees Q2 deliveries 2,400-2,500
- Toll Brothers reports Q1 EPS $2.25, consensus $1.78
- Toll Brothers Reports FY 2024 1st Quarter Results
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