UPDATE: Wells Fargo Starts Toll Bros. (TOL) with a Non Consensus Overweight

(Updated - April 16, 2021 8:33 AM EDT)

Wells Fargo analyst Deepa Raghavan initiates coverage on Toll Bros. (NYSE: TOL) with a Overweight rating and a price target of $75.00.

The analyst stated "TOL is the most shorted name in the group. Investors are not used to perceiving luxury as being strong this early in the cycle. We believe investors/Street underappreciate the higher quality of buyers this cycle. Millennials are late to buy but are also replete with higher savings gained during COVID-19, 3 stimulus checks, loan forbearance, etc. Affordability concerns at this point in the cycle are overblown in our view."

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 $59.65 yesterday.

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