Patrick Industries price target raised to $165 from $150 at Truist

Truist analyst Michael Swartz raised the firm’s price target on Patrick Industries to $165 from $150 and keeps a Buy rating on the shares as part of a broader research note on RVs. The Fall RV Dealer survey suggests that the industry is turning the corner following a tumultuous two years, with the combination of healthier inventory and easing promotion, lower carrying costs, improving margins, and recent retail stability offering comfort that estimates for FY24-FY25 have largely bottomed, the analyst tells investors in a research note. The next leg higher for RV stocks hinges on a sustainable retail inflection, but the space appears to be as investable as at any time over the past two years, the firm adds.