Goldman Sachs Reitereates Bullish Take On Toll Brothers (TOL)
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Goldman Sachs is maintaining their bullish stance on home builder Toll Brothers Inc. (NYSE: TOL) this morning following a meeting with management and a field tour. The firm reiterates their Buy rating and $24 price target.
The firm said TOL remains focused on maintaining its core high-end hombuilder strategy, the only strata of homebuilding that has a high barrier to entry. The firm also notes TOL is very comfortable with its land portfolio and is looking to add more, which the firm's thinks is the right call. They also said management continues to cut costs to return to profitability.
Shares of TOL closed at $16.97 yesterday, providing upside 41% upside to the firm's price target.
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