Toll Brothers price target raised to $154 from $140 at UBS

UBS analyst John Lovallo raised the firm’s price target on Toll Brothers to $154 from $140 and keeps a Buy rating on the shares after its Q2 results. The market is focused on the gross margin decline implied in the company’s financial outlook, but the pullback in the stock creates an attractive buying opportunity, the analyst tells investors in a research note. Toll Brothers has also experienced relatively modest land cost inflation over the past few years and commands better-than- average pricing power, the firm added.