SunTrust analyst Michael Swartz lowered his price target on Thor Industries to $80 after its Q3 earnings miss, saying the quarter was "nothing to write home about". The analyst maintains his Buy rating on the stock however, noting that the gross margin, inventory, and bookings trends suggest that the worst for the company and for the industry may be in the past. Swartz adds that while the retail industry uncertainty raises questions about Thor Industries' prospects, "more stable production" and accelerated debt paydowns should limit the company's earnings downside.