BMO Capital Raises Price Target on Winnebago Industries (WGO) to $33 Following Announced Grand Design Acquisition

BMO Capital reiterated an Outperform rating on Winnebago Industries (NYSE: WGO), and raised the price target to $33.00 (from $27.00), following the company's announced acquisition of Grand Design for $500 million. This deal brings makes company the third-largest towable RV manufacturer in the world, up from eighth in CY2015.

Analyst Gerrick Johnson commented, "We view the acquisition as a big win for Winnebago. Grand Design is a highly profitable (14% EBITDA margin) and fast-growing (revenue CAGR of 80%+ since 2013) company, which diversifies Winnebago's RV exposure and expedites its strategy to grow its towables business."

For an analyst ratings summary and ratings history on Winnebago Industries click here. For more ratings news on Winnebago Industries click here.

Shares of Winnebago Industries closed at $29.15 yesterday.

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