We recently upgraded to a Neutral view on valuation grounds alone & will stick with it unless today’s relief rally carries the stock through $5.
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Toll Holdings (TOL) - Lower Base For New Boss
Appointment of current CFO Brian Kruger as Managing Director was widely anticipated.
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Toll Holdings (TOL) - Long Journey, Uncertain Destination, New Driver Pending
Strategy remains unconvincing, senior management is in transition & trading outlook is weak.
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Toll Holdings (TOL) - False Dawn
We maintain our Neutral recommendation on valuation grounds.
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Toll Holdings (TOL) - Bottomed Out
Industry feedback is that domestic market volumes are just ok, but with the exit of marginal players this has been enough to lead to a more rational pricing environment.