Citi downgraded Thor Industries (THO) to Neutral from Buy with a price target of $86, down from $94. The firm cites interest rate and macroeconomic uncertainty for the downgrade. A “soft landing seems less likely with every passing day,” which puts a ceiling on the medium-term upside scenario for the shares, the analyst tells investors in a research note. Further, Citi says Thor’s margins have struggled to find a bottom, and it is evident that the company’s recent market share push is a “non-zero-sum tradeoff with an indefinite payoff to the bottom.”
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Read More on THO:
- Bank of America (NYSE:BAC) Lands Upgrade at Baird
- Thor Industries price target lowered to $80 from $95 at DA Davidson
- Thor Industries price target lowered to $105 from $120 at BMO Capital
- Thor Industries price target lowered to $100 from $125 at BofA
- Thor Industries price target lowered to $90 from $110 at Truist
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