Toro rises after brokerages lift PT on Q2 results beat

Toro Co

07/06/2024 16:00

** Turf and landscape equipment seller Toro Company's shares
 TTC.N  rise 3.5% to $94.30
    ** Northland Capital lifts PT to $100 from $95, a ~10%
upside to the stock's last close
    ** Says co's Q2 results suggest that issues of high channel
inventories and weak residential demand are beginning to fade
    ** D A Davidson also lifts PT to $103 from $95, a 13% upside
    ** Says TTC is yet to return to its "reliable" double-digit
earnings growth trend, while it is getting closer
    ** On Thursday, TTC reported Q2 adjusted EPS of $1.4, above
analysts' estimate of $1.29 - LSEG data
    ** Co also reported Q2 net sales of $1.35 bln, slightly
above estimate of $1.34 bln
    ** Three brokerages rate the stock "buy" and five "hold";
their median PT is $100.00 - LSEG data
    ** Stock had fallen 1.8% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))