From, The effect of selective estrogen receptor modulator administration on the hypothalamic-pituitary-testicular axis in men with idiopathic oligozoospermia, Elena Tsourdi M.D., Ph.D, Fertility and Sterility Volume 91, Issue 4, Supplement 1, April 2009, Pages 1427-1430
Shows that Toremifene, Tamoxifen and Raloxifene all raise testosterone levels and improve sperm count/quality.
Tamoxifen 20mg:
Baseline: 496.59
3 months: 783
Toremifene 60mg:
Baseline: 498
3 Months: 763.92
Raloxifene 60mg:
Baseline: 583
3 Months: 604
Of course, this show raloxifene isn't the bes at raising testosterone levels. However, 20mg of tamoxifen and 60mg of toremifene are standard doses, whereas raloxifene at 60mg is half of what people should be running it.
Not to mention, with the above toxicity levels, raloxifene in a 220lb man could be run at nearly 1000mg/day safely.