Toro Company price target lowered by $5 at CL King, here’s why

CL King lowered the firm’s price target on Toro Company to $106 from $111 and keeps a Buy rating on the shares ahead of the Q4 earnings report on December 20. CL King believes the weakness in shares is overdone, and while there is ongoing weakness in the Residential segment, it represents just 25% of Toro’s total revenue and has historically had a margin profile below the majority of the Professional segment, which is performing well, the analyst tells investors in a research note.