UPDATE: Wedbush Securities Upgrades Thor Industries to Outperform on Heightened Dealer Confidence

Wedbush Securities raised its rating on Thor Industries

from Neutral to Outperform and increased its price target from $33 to $46. Wedbush Securities commented, "Based on recent conversations with recreational vehicle (RV) dealers during our channel checks as well as at this week's RVDA Expo, we believe the RV market is now at a critical inflection point, with increased confidence likely to drive an acceleration in order patterns over the next several months, particularly in the towables segment (where Thor is the industry leader). Factors cited by dealers as driving such renewed optimism include rising consumer confidence, increased availability of consumer financing alternatives, relatively stable fuel prices, and most recently, a thawing residential real estate market and its resulting wealth effect in the mindset of prospective consumers." Thor Industries closed at $35.56 on Wednesday.