Thor Industries Inc. (THO) PT Raised to $142 at Stifel

March 8, 2018 5:54 AM EST
Get Alerts THO Hot Sheet
Price: $69.53 -1.14%

Rating Summary:
    5 Buy, 12 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 58
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Stifel raised its price target on Thor Industries Inc. (NYSE: THO) to $142.00 (from $132.00) while maintaining a Hold rating after the company reported 2Q18 EPS slightly above the Street consensus and their estimate on better-than-expected revenue.

"We see evidence of the cycle continuing, with a 34% y/y rise in backlog and an increase in retail inventories that was roughly in line with sales growth – though much is riding on the spring selling season," analyst Michael Baudendistel commented.

The firm is increasing 2019 EPS estimate from $11.50 to $11.80 to reflect higher revenue growth assumptions, partially offset by a reduction to our estimate for gross margin percentage as a result of direct labor and input cost inflation.

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