BMO Capital analyst Tristan Thomas-Martin raised the firm’s price target on Thor Industries to $120 from $115 and keeps an Outperform rating on the shares. The company’s Q1 results were “relatively uneventful” as it is continuing to destock the dealer channel and reset RV pricing, the analyst tells investors in a research note. BMO maintains that Thor benefits from RV industry tailwinds, including an aging population, ongoing replacement cycle, and popularity of RVs among millennials.
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