Toll Brothers: Wedbush raises its opinion

(CercleFinance.com) - Wedbush raises its opinion on Toll Brothers from 'neutral' to 'outperform' and increases its price target from $148 to $175, believing that 'the recent decline in the share price due to rising mortgage rates has created a buying opportunity on the stock'.


In particular, the broker believes that the average Toll homebuyer is less concerned about their monthly payments than their personal financial situation, and that the historic highs reached by the stock markets could therefore boost demand.

'Although second-time buyers are not completely unaffected by rates, the lack of existing homes in most markets is pushing them towards new homes, which should benefit Toll', he also believes.

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