Toll Brothers price target raised to $145 from $133 at RBC Capital

RBC Capital raised the firm’s price target on Toll Brothers (TOL) to $145 from $133 and keeps an Outperform rating on the shares after its Q3 earnings beat. The firm is cutting its FY26 estimates to reflect softer orders and shrinking backlog, though this is partly offset by stronger average sales prices as the management balances pace/price while luxury segment continues to hold up well, the analyst tells investors in a research note. RBC adds that Toll’s recent deposit and incentive commentary was somewhat encouraging but taken with a grain of salt given continued volatility and a seasonally slow period.