** Oppenheimer cuts PT on luxury home builder Toll Brothers TOL.N to $155 from $165, upside of 47.5% to stock's last close; rating unchanged at 'outperform'
** Co's shares down 1% at $104 in early trading
** Brokerage expects co to lower annual closing forecast due to choppy demand during spring selling season
** Adds that it sees model orders below normal seasonality in FY25
** Oppenheimer expects co's FY25 orders to be 10,560 below street estimate of 10,630
** Co's Q1 adj. EPS missed analysts' estimates; will announce Q2 result on May 20, post market
** Eleven of 19 brokerages rate stock "buy" or higher, seven "hold" and one "sell"; their median PT is $139.50 - LSEG data
** Including session's moves, shares down 17% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
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