Wedbush Starts Thor Industries Inc. (THO) at Neutral; RV Market Rebound, but Aggressive Competition

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Wedbush initiates coverage on Thor Industries Inc. (NYSE: THO) with a Neutral. PT $25.00.

Wedbush analyst says, "Thor enjoys the market-leading position in an RV industry which is now seeing an encouraging improvement in sales trends, but has faced slight market share declines and heightened competitive promotional spending in recent months; thus, we believe shares of THO should trade at a slight 10-15% discount to the peer group average EV/2012E EBITDA ratio of 6.5x...We would likely await a moderation or return to normalcy in such a competitive promotional environment before becoming more bullish on shares of THO."

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

Shares of Thor Industries Inc. closed at $24.17 yesterday, with a 52 week range of $17.62-$39.12.

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