What's Going On With The Toro Company's Shares Today?

The Toro Company TTC shares are trading slightly higher today following an upgrade from Raymond James.

What Happened: Raymond James analyst Sam Darkatsh upgraded Toro from Market Perform to Outperform and announced a $130 price target.

Darkatsh believes the company's higher margin Pro segment should enjoy solid shipment growth for years. Additionally, Darkatsh expects free cash flow conversion to improve as supply chain issues subside throughout 2023.

Darkatsh also expects modest residential segment sales results given elevated retailer inventories and weak housing activity.

The Toro Company is a leading manufacturer of professional turf maintenance and landscaping equipment, irrigation systems, and residential yard products.

According to data from Benzinga Pro, The Toro Company shares are up 1.66% at the time of publication, and 13.35% year-to-date, trading at $112.77.