THO - Thor Industries is tipped by BMO for strong earning report

Thor Industries (NYSE:THO -0.1%) is called out by BMO Capital Markets to report robust FQ3 results on Wednesday. Analyst Gerrick Johnson pointed to elevated production levels for THO in the quarter, although dealer inventory levels are now above pre-pandemic levels with retail sales in a recent slowing trend. He noted that the RVIA has recently lowering its 2022 industry shipment forecast, which is a reason that some manufacturers have taken some downtime in May. Still, Johnson remained bullish on the RV and outdoor lifestyle. "While a moderation in near-term production maybe adversely impact THO's revenue over the next few quarters, we see it as a positive sign for the long-term health of the RV industry," he noted. BMo Capital Markets kept an Outperform rating on TGO and price target of $95. Shares of Thor Industries (THO) are down 26.60% YTD.

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Thor Industries is tipped by BMO for strong earning report