Toll Brothers is updated and rated (lower) Buy at $75.49. Given a period of sharply lower contracts to build homes in the last half of fiscal 2022 and first half of fiscal 2023, I had expected it to be reporting earnings declines over the past two quarters. Instead earnings have soared. And now contracted home sales are very strong. But the period of lower contracts is still expected to result in lower earnings in upcoming quarters. So overall this is a tough call. It is a very well managed company but has a very cyclic history. It’s probably wise to hold any current position but be a bit cautious about buying. I’d be more interested in adding to it if the price dips below $70.