UPDATE: JPMorgan Upgrades Toll Bros. (TOL) to Neutral

(Updated - March 10, 2022 4:27 AM EST)

JPMorgan analyst Michael Rehaut upgraded Toll Bros. (NYSE: TOL) from Underweight to Neutral with a price target of $58.00 (from $71.00).

The analyst comments "We raise our rating on TOL to Neutral from Underweight, as following the stock’s YTD underperformance, down 29% vs. our universe’s 21% average decline (S&P: - 10%), we view its relative valuation, trading at 4.0x our 2023E EPS and 1.2x P/B, below its larger-cap peers’ averages of 4.5x and 1.7x, respectively, as reasonably reflecting our outlook for below average operating margins and ROE in 2022-23."

For an analyst ratings summary and ratings history on Toll Bros. click here. For more ratings news on Toll Bros. click here.

Shares of Toll Bros. closed at $51.60 yesterday.

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