The firm has a price target on the shares between $34 and $36, according to TheFly.
Wells Fargo also started coverage of several other companies in the housing industry earlier today, including KB Home (KBH), DR Horton (DHI), Lennar (LEN) and PulteGroup (PHM).
Toll Brothers is a Horsham, PA-based designer, builder and marketer of detached and attached luxury homes in the U.S.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings team rates Toll Brothers as a Hold with a ratings score of C+. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, it also finds weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and poor profit margins.
You can view the full analysis from the report here: TOL