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Fly News Breaks for August 23, 2017
TOL
Aug 23, 2017 | 07:14 EDT
Wells Fargo says that Toll Brothers' 2.6% decline following its Q3 results was overdone. The firm blames the decline on the company's lower Q4 gross margin guidance and "slower community growth." However, the firm calls the company's fundamentals "above average" and views its valuation as attractive. Wells says that the company's growth outlook is positive and, along with upcoming share repurchases, "outweighs" gross margins concerns. It thinks the stock's weakness has created a buying opportunity.
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