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This US housing stock is moving!
Toll Brothers is a US luxury house builder that's beaten expectations with its fourth quarter results. Although overall profit's down, revenue is up by 65 per cent. Saxo Bank's Head of Equity Strategy, Peter Garnry, says you should consider American housing stocks as the US economy continues to improve. Shares were up strongly in pre-market trading.
Peter's been positive about US housing stocks for some time. The latest Case-Shiller index of real estate shows home prices are up some 13 per cent in a year. However he does give a word of caution on Toll Brothers. He says they look to be a solid investment but perhaps the upside is limited; there are other home builders that have the potential to do even better, he says.
01:12 minutes
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