UPDATE: Keefe, Bruyette & Woods Downgrades Toll Brothers on Valuation

In a report published Wednesday, Keefe, Bruyette & Woods analyst Jade J. Rahmani downgraded the rating on Toll Brothers (NYSE: TOL ) from Outperform to Market Perform, but raised the price target from $40.00 to $42.00. In the report, Keefe, Bruyette & Woods noted, “Core earnings (ex. gains) were modestly