BofA analyst Rafe Jadrosich lowered the firm’s price target on Toll Brothers (TOL) to $140 from $156 and keeps a Buy rating on the shares after the company reported fiscal Q1 EPS below the firm’s and consensus estimates and gave a Q2 outlook below the firm’s expectations. While management maintained its full year guidance, the cadence is more back half weighted than BofA previously expected, the analyst noted.
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