Patrick Industries price target raised to $120 from $115 at Truist

Truist raised the firm’s price target on Patrick Industries (PATK) to $120 from $115 and keeps a Buy rating on the shares as part of a broader research note on Recreational Vehicles. Following a “tumultuous” three-year stretch, the recent conversations with dealers suggest that an industry-wide demand/earnings recovery has finally arrived, the analyst tells investors in a research note. This is also supported by improved demand signals, healthier margins and cash generation, and a broader restocking posture, indicating that FY25/FY26 Street numbers could ultimately prove “conservative”, Truist added.