UPDATE - UBS Downgraded Toll Bros. (TOL) to Neutral; Remains Among Best Positioned, But Valuation Reflects Too Robust A Pickup
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Price: $147.09 +1.36%
Rating Summary:
22 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
22 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - UBS downgraded Toll Bros. (NYSE: TOL) from Buy to Neutral. PT unchanged at $25.
UBS analyst said, "Since launching in ‘07, Toll has been in our top picks among the HBs. This reflected mgmt’s acumen (esp. given the uncertain macro backdrop), its robust liquidity, and high end focus, where competition is limited. Although those benefits continue to hold true, we believe TOL’s recent move- +37% vs. the S&P 500 +7% since 8/31 -leaves it fairly valued."
"We still expect a gradual recovery to begin in 2012, as conditions moderate. Further, given Toll’s operating strategy - as noted above - we expect it to remain profitable in a slow/no growth scenario. As such, we’d likely view a pullback in the stock as an opportunity to get more positive."
To see more ratings on TOL, Click Here
UBS analyst said, "Since launching in ‘07, Toll has been in our top picks among the HBs. This reflected mgmt’s acumen (esp. given the uncertain macro backdrop), its robust liquidity, and high end focus, where competition is limited. Although those benefits continue to hold true, we believe TOL’s recent move- +37% vs. the S&P 500 +7% since 8/31 -leaves it fairly valued."
"We still expect a gradual recovery to begin in 2012, as conditions moderate. Further, given Toll’s operating strategy - as noted above - we expect it to remain profitable in a slow/no growth scenario. As such, we’d likely view a pullback in the stock as an opportunity to get more positive."
To see more ratings on TOL, Click Here
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