Oppenheimer cuts Toll Brothers' PT on expected reduction in 2025 forecast

Oppenheimer cuts PT on luxury home builder Toll Brothers TOL.N to $155 from $165, upside of 47.5% to stock's last close; rating unchanged at 'outperform'

Co's shares down 1% at $104 in early trading

Brokerage expects co to lower annual closing forecast due to choppy demand during spring selling season

Adds that it sees model orders below normal seasonality in FY25

Oppenheimer expects co's FY25 orders to be 10,560 below street estimate of 10,630

Co's Q1 adj. EPS missed analysts' estimates; will announce Q2 result on May 20, post market

Eleven of 19 brokerages rate stock "buy" or higher, seven "hold" and one "sell"; their median PT is $139.50 - LSEG data

Including session's moves, shares down 17% YTD