Barclays analyst Matthew Bouley lowered the firm’s price target on Toll Brothers (TOL) to $115 from $135 and keeps an Underweight rating on the shares. The firm prefers building products to homebuilders in Q4. Investor expectations are “subdued” across both subsectors into earnings, the analyst tells investors in a research note. The firm says that as both subsectors declined over the past six weeks, building products stocks have seen greater dislocations versus fundamentals, leaving better entry points.
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