BMO Capital Raises Price Target on Winnebago Industries (WGO) to $33 Following Announced Grand Design Acquisition
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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."
Shares of Winnebago Industries closed at $29.15 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Mergers and Acquisitions
Related EntitiesBMO Capital, Definitive Agreement
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