New York, October 5 (FinanceEnquiry.com) – Analysts at Wedbush Securities upgrade their rating on the shares of Thor Industries Inc (NYSE: THO) from NEUTRAL to OUTPERFORM. The 12-month target price has been raised from $33 to $46.
In a research note published on October 4, the analysts mention that with augmented assurance probable to drive an acceleration in order patterns over the next more than a few months, mainly in the towables segment- where Thor Industries is the industry chief, it is supposed that market of recreational vehicle (RV) is at a sharp inflection point at present and this is said on the basis of latest conversations with dealers of RV at some stage in channel checks and at RVDA Expo of this week.
In addition to this, increasing confidence of customer, augmented opportunity of consumer financing options, comparatively steady prices of fuel and most lately, a softening residential real estate market and its resulting consequence of affluence in the attitude of potential customers have been comprised in the factors mentioned by dealers as driving such transformed positivism. Moreover, on October 3, Thor Industries was closed at $35.56, the analysts add further.
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