Winnebago price target lowered to $70 from $74 at Truist

Truist analyst Michael Swartz lowered the firm’s price target on Winnebago to $70 from $74 but keeps a Buy rating on the shares. The company’s Q4 earnings were “so-so” and the management commentary regarding FY24 reflected a relatively softer-than-anticipated production cadence throughout the first half along with incremental costs associated with the GD motorized launch, the analyst tells investors in a research note. The firm adds macros and retail/destocking dynamics will continue to influence shares in the near term, though Truist remains constructive with its long-term outlook on this “high-quality share and margin expansion” story.