Analyzing Thor's Strategic Clearance: Analyst Sees Measured Production Rebound Ahead
Portfolio Pulse from Shivani Kumaresan
Truist Securities analyst Michael Swartz reiterated a Hold rating on Thor Industries Inc (NYSE:THO) and raised the price target from $84 to $86. Thor reported solid FY4Q23 results, with adjusted EPS of $1.68 on revenue of $2.74 billion, beating estimates. The company ended FY4Q with a North American backlog of ~$2 billion. The analyst believes that an anticipated production rebound would likely unfold at a more measured pace due to the ongoing clearance of aged product.
September 26, 2023 | 7:12 pm
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Thor Industries received a Hold rating from Truist Securities, with a raised price target of $86. The company's FY4Q23 results exceeded estimates. However, the analyst expects a slower production rebound due to the clearance of aged product.
The Hold rating and raised price target indicate a positive outlook for Thor Industries. However, the anticipated slower production rebound due to the clearance of aged product could potentially impact the company's short-term performance. This is reflected in the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100