Toll Brothers up; J.P. Morgan upgrades to 'overweight'

Shares of homebuilder Toll Brothers TOL.N up 1.7% at $145.11 premarket

J.P. Morgan upgrades to "overweight" from "neutral" and raises PT to $161 from $138, implying a 12.8% upside to the stock's last close

Brokerage anticipates that by 2026-end investors may reward slightly higher valuations to large builders

12 of 18 brokerages covering TOL have a "buy" or higher rating, 4 "hold", and rest "sell"; stock has a median PT of $157.50, according to data compiled by LSEG

Up to last close, TOL up ~13% YTD