2024-02-24 02:59:29 ET
Summary
- Toll Brothers has reported strong quarterly results, with earnings exceeding expectations and revenue rising by nearly 10%.
- The US housing market is showing resilience despite elevated interest rates, with demand for houses accelerating, aided by the lack of supply.
- Toll Brothers has seen an increase in orders and a rise in buyer demand, supporting its full-year results and potential for further growth.
Toll Brothers ( TOL ) has been a tremendous performer over the past year, with its stock nearly doubling. Quarterly results reported this week have added to the enthusiasm, and the company continues to perform well. Shares have rallied nearly 20% since I reiterated my “buy” recommendation in December , approaching my $114 price target. Increasingly, I view my “optimistic” case of shares eclipsing $130 as likely, and I remain a buyer....
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Toll: Increased Demand Highlights A Strong Q1