Toll Brothers (TOL) NewsBite - TOL Upgraded By JP Morgan

Posted: Friday, September 18, 2009 1:07 PM EDT

Toll Brothers (TOL) was upgraded today by analysts at JP Morgan and the stock is now at $22.28, up $0.75 (3.48%) on volume of 4,294,514 shares traded. The analysts upped the stock to Overweight from Neutral. Over the last 52 weeks the stock has ranged from a low of $13.55 to a high of $28.00. Toll Brothers stock has been showing support around $20.72 and resistance in the $22.90 range. Technical indicators for the stock are bullish and S&P gives TOL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on TOL the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 19 range. [ABR-Seven Summits Strategic Investments NewsBite]

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