Winnebago price target raised to $85 from $70 at Truist

Truist raised the firm’s price target on Winnebago to $85 from $70 and keeps a Buy rating on the shares. The firm is reducing its FY24 EPS view to $6.50 from $7.35 after the company’s Q1 earnings miss but maintains its 12-18 month view of Winnebago’s earnings power, the analyst tells investors in a research note. Truist further noted that the company indicated that over the past 30-60 days, retail demand for several of its key brands has turned positive on a y/y basis, and that it has begun to see lot share gains stemming from dealer stocking optimization efforts.