UPDATE: BMO Capital Markets Initiates Thor Industries at Outperform on Encouraging Trends

BMO Capital Markets initiated coverage on Thor Industries

with an Outperform rating and a $55.00 price target. BMO Capital Markets commented, "We are initiating coverage of Thor Industries (THO), the world's largest producer of recreational vehicles (RVs), with an Outperform rating and a $55 price target. We believe Thor benefits from several key trends in early to early-mid cycle, which should help sustain growth and upward earnings revisions over the next two years. These include a demographic play on the retiring of America, an early-stage replacement cycle, an increasing consumer confidence from rising home prices, and a renewed popularity of RVing and RV culture." Thor Industries closed at $38.95 on Tuesday.