Thor Industries initiated with a Hold at Loop Capital

Loop Capital initiated coverage of Thor Industries (THO) with a Hold rating and $110 price target as part of a broader research note on RV sector. The North American RV industry is in the late innings of a prolonged inventory restocking period, though retail demand remains challenged with demand skewed towards more affordable, entry-level products, the analyst tells investors in a research note. Loop adds that the company’s EPS guidance is achievable and current consumer preferences favor their product portfolio, but it would turn more constructive on further evidence of improving fundamentals or a meaningful pullback in shares.