Toll Brothers: Wedbush raises target price

(CercleFinance.com) - While maintaining its 'neutral' rating on Toll Brothers shares, Wedbush has raised its target price for them from $120 to $148, taking a more positive outlook due to improving trends and a more favorable mortgage rate environment.


Toll said at its conference that attendance and activity bottomed out in June, before a firm recovery in July and August, the broker notes, which expects this momentum to continue over the rest of the last quarter of 2024.

Wedbush also raises its EPS estimates for the high-end homebuilder from $14.35 to $14.71 for 2024 and from $13.96 to $14.86 for 2025, and has introduced a forecast of $16.42 for 2026.


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