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.