BofA raises PT of Toll Brothers after better-than-expected Q3 earnings

BofA Global Research raises PT of homebuilder Toll Brothers TOL.N to $150 from $145; new PT represents a 14.1% upside to stock's last close

Maintains rating at "buy"

Co on Wednesday reported Q3 profit and revenue above Wall Street estimates

BofA says co's order backlog is lower than last year, but TOL is seeing positive signs from steady growth in new communities, faster homebuilding, and a good balance between custom and ready-to-move-in homes

Notes co's home sales margin was slightly better than expected last quarter driven by strong product and regional mix

Twelve of 18 brokerages rate stock "buy" or higher, four "hold" and two "sell"; median PT is $150 - LSEG compiled data

Including session's move, TOL up 3.9% YTD