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Fly News Breaks for December 10, 2018
THO
Dec 10, 2018 | 09:17 EDT
BMO Capital analyst Gerrick Johnson lowered his price target on Thor Industries to $78 after its Q1 earnings miss, driven by the unit shipment decline of 27% which the company facilitated in order to clear the build-up of inventory in its retail channel. The analyst keeps his Outperform rating on Thor Industries in the longer term however, stating that while the protracted inventory clearing is disappointing, he sees the demand for outdoor lifestyle experiences remaining "strong" and expects the company to "capitalize on these strong secular trends". Johnson further contends that Thor Industries looks to be "much better situated for the 2019 retail season".
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