Morgan Stanley initiated coverage of luxury homebuilder Toll Brothers on October 1, 2026, with an Overweight rating. The bank set a price target of $159 per share.
Morgan Stanley cited Toll Brothers’ affluent customer base and ability to maintain pricing power, which it said could provide insulation from broader market fluctuations.
In late September and early October, Toll Brothers announced several new luxury home communities and grand openings of amenities in Washington, South Carolina, and North Carolina, signaling continued business growth.