Thor Industries downgraded to Underweight from Sector Weight at KeyBanc

KeyBanc downgraded Thor Industries (THO) to Underweight from Sector Weight with a $65 price target The firm says that following discussions with 30 leisure vehicle dealers, it is clear that ongoing macro pressures in addition to policy shifts are influencing consumer appetite for large-ticket discretionary purchases. February screened soft for leisure products, impacted by unfavorable weather across much of the country, and the retail environment “remains muted,” the analyst tells investors in a research note. KeyBanc cites reduced estimates with a lower implied multiple for the downgrade of Thor.