Toro (TTC) PT Raised to $102 at Baird

Baird analyst Timothy Wojs raised the price target on Toro (NYSE: TTC) to $102.00 (from $100.00) while maintaining a Neutral rating.

The analyst commented: "Key takeaways from our golf/lawn & garden dealer checks include: 1) modestly improved growth expected in golf course budgets and turf/equipment spend for 2024, 2) small improvement in golf equipment lead times, but still significantly elevated vs. historical levels (with some anecdotes suggesting more interest in the used market), 3) lawn/garden trends weakened through FQ3 (volatile weather), and 4) lawn/garden dealer net inventory remains elevated. Overall, no big changes sequentially. Risk/reward leans favorable into results against YTD underperformance (meet/reiterate likely ok), but remain Neutral-rated pending better end-market visibility in F2025."

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