Thor Industries price target raised to $65 from $60 at KeyBanc

KeyBanc analyst Noah Zatzkin raised the firm’s price target on Thor Industries (THO) to $65 from $60 and keeps an Overweight rating on the shares. Following April RVIA shipment data, the firm is adjusting estimates and reflecting on its sense of expectations into next Wednesday’s print. In KeyBanc’s view, investors anticipate Thor to post in line to slightly stronger than consensus top- and bottom-line results, but expect management to move full year guidance lower, accounting for slower industry production in 4Q as industry shipments have meaningfully outpaced retail calendar year-to-date. All in, the firm continues to wait for positive proof points around retail demand appetite, and expects uncertainty to weigh on sentiment in the interim.