Thor Industries price target lowered to $90 from $110 at Truist

Truist lowered the firm’s price target on Thor Industries (THO) to $90 from $110 and keeps a Hold rating on the shares after its Q2 earnings miss and guidance cut. Expectations into the print were not demanding, but the commentary reinforces the firm’s more cautious view around the pace of Thor’s earnings recovery in FY25/FY26, the analyst tells investors in a research note. The stock is not expensive at 7.5-times expected FY25 EBITDA, but the firm would need to see a material non-macro catalyst before taking a more constructive view, Truist adds.