Benchmark starts LCI Industries with a Buy, likes diversified model

As previously reported, Benchmark analyst Michael Albanese initiated coverage of LCI Industries with a Buy rating and $130 price target. LCI successfully consolidated RV suppliers, notably in towable, and has eyes on other fragmented supply chains, notes the analyst, who likes the diversified model and pivot into adjacent markets to expand the total addressable market. The firm believes LCI can generate about $8 in earnings and $400M-plus in EBITDA at current scale and under modest assumptions, the analyst tells investors.