Citi lowered the firm’s price target on Toll Brothers (TOL) to $137 from $155 and keeps a Neutral rating on the shares. Citi updated estimates and top picks as part of a 2025 outlook for the homebuilding and building products group. The firm’s 2025 earnings estimates fell 3% on average, and are now below consensus for most producers. After housing starts, remodeling spend, and cement volumes fell in 2024, Citi expects a “very modest rebound year” in 2025, the analyst tells investors in a research note. The firm remains cautious on homebuilders, which it says have the greatest sensitivity to elevated rates. Its top picks are CRH (CRH), Owens Corning (OC), and Vulcan Materials (VMC).
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Read More on TOL:
- Toll Brothers CFO Connor sells 11,140 common shares
- Toll Brothers call volume above normal and directionally bullish
- Toll Brothers downgraded to Neutral from Overweight at JPMorgan
- Toll Brothers price target raised to $184 from $181 at Evercore ISI
- Toll Brothers price target raised to $150 from $143 at RBC Capital
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