Toll Brothers: Wedbush raises target price
(CercleFinance.com) - Wedbush reaffirms its "outperform" rating on the share of Toll Brothers, raising its corresponding target price from 45 dollars to 53 dollars, the day after the upmarket home builder published quarterly EPS of 90 cents, above the broker's forecast of 71 cents.
It said that while Q3 sales were in line with its forecast of 1.6 billion dollars, the 26% growth in orders was more than double its expectation (+10%).
Adding that Brothers' projections for its fourth quarter also exceeded its previous expectations, Wedbush has raised its FY 2020 EPS estimates for FY 2020 to 2022 to 3.18 dollars, 4.67 dollars and 5.76 dollars respectively.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
It said that while Q3 sales were in line with its forecast of 1.6 billion dollars, the 26% growth in orders was more than double its expectation (+10%).
Adding that Brothers' projections for its fourth quarter also exceeded its previous expectations, Wedbush has raised its FY 2020 EPS estimates for FY 2020 to 2022 to 3.18 dollars, 4.67 dollars and 5.76 dollars respectively.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.