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Fly News Breaks for February 28, 2019
TOL
Feb 28, 2019 | 08:17 EDT
As previously reported, Evercore ISI downgraded Toll Brothers to In Line from Outperform and maintained a $38 price target. Analyst Stephen Kim said the "easy money" has been made since he upgraded the homebuilders back in October with the group up over 25%. His checks also indicate the Spring Selling season is off to a slow start and looking further out, Kim sees headline risk from leadership changes at the Federal Housing Administration and the Federal Housing Fiance Administration that could lead to a slowdown in high-DTI agency lending.
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