Thor Industries upgraded to Buy from Neutral at Citi

Citi upgraded Thor Industries to Buy from Neutral with a price target of $122, up from $111. The analyst also opened a “90-day positive catalyst watch” on the shares. Thor is the “poster child” for the early-cycle recreational vehicle story, the analyst tells investors in a research note. The firm thinks the worst is behind the company, saying February retail data declines will be much more modest than those in January, and that the industry is likely to turn positive in April/May. From there, dealers will feel more comfortable on the order front and the shares are likely to appreciate, “potentially quite nicely,” contends Citi.