- BofA analyst Ross Gilardi downgraded Toro Co TTC to Underperform from Neutral and lowered the price target to $85 (implying a downside of 10%), from $118.
- Gilardi says the company faces secular challenges in its Residential segment, while the combination of soaring input costs, acute gas lawnmower engine shortages, and rising competition should result in margin headwinds going into 2022.
- Also Read: Analyst: Sell This Stock Ahead Of California Gas Mower Ban.
- Price Action: TTC shares closed lower by 5.47% at $94.18 on Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.