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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:21 EDT
Raymond James analyst Buck Horne downgraded Toll Brothers to Market Perform from Outperform following the company's Q1 results that not only missed key expectations on several fronts, but also included guidance for the remainder of FY20 that raises serious questions about internal cost controls and management's financial visibility. Home deliveries,adjusted gross margin and SG&A costs all missed guidance by considerable levels, Horne tells investors.
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