Thor Industries price target lowered to $94 from $119 at Citi

Citi lowered the firm’s price target on Thor Industries (THO) to $94 from $119 and keeps a Buy rating on the shares. The company reported “significant weakness” in margins, resulting in a fiscal Q2 miss and 85c cut to earnings per share guidance, the analyst tells investors in a research note. The firm says that while Thor remains confident in its sales assumptions, with revenue guidance down more modestly, margin weakness is more than offsetting stabilizing top-line trends. Citi believes an uncertain macro backdrop “threatens to undo recent progress” made in towable retail and wholesale trends.