Toro Company price target raised to $97 from $93 at DA Davidson

DA Davidson raised the firm’s price target on Toro Company (TTC) to $97 from $93 and keeps a Buy rating on the shares after its Q3 earnings beat. In Professional, trends are moving in a positive direction, with Golf demand stronger than expected and Landscape dealer activity accelerating, the analyst tells investors in a research note. In Residential, the strong end to spring did not lead to much re-order activity given seasonality, but cleared-out channel inventory and potential rate cuts, among other items, point to better times ahead, the firm added.