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Fly News Breaks for February 5, 2020
TOL
Feb 5, 2020 | 06:16 EDT
RBC Capital analyst Michael Dahl upgraded Toll Brothers to Outperform from Sector Perform with a price target of $50, up from $39. The analyst cites the company's proxy filing this week indicating that the management is "leaning heavily" into buybacks, raising his estimate for repurchases to $1B from $360M through FY21. Dahl also notes favorable pricing trends for Toll Brothers, with proprietary RBC data showing that the company raised prices on 73% of its floor plans last month vs. 15% in December.
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