07:50 AM EST, 03/06/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain a 12-month target of $100, based on 12.5x our FY 25 (Jul.) EPS estimate, a justified discount to THO's mean 10-year forward P/E of 13.6x. We lower our adjusted EPS estimates to $5.30 from $6.65 for FY 24 and to $8.00 from $8.85 for FY 25. THO posts Jan-Q EPS of $0.13 vs. $0.50 (-74%), well short of the $0.66 consensus. The miss was driven by weaker-than-expected revenue and margins, as net sales fell 6% to $2.21B ($60M below consensus) and gross margin expanded 20 bps to 12.3% (160 bps short of consensus). THO lowered prior FY 24 net sales and EPS guidance to $10.0B-$10.5B and $5.00-$5.50 from $10.5B-$11.0B and $6.25-$7.25, respectively (current consensus = $10.65B and $6.67). We maintain a Hold, as THO trades down sharply in the pre-market following the big miss and guidance cut. We think the release throws a wrench into the bull case, which was built around much-improved Y/Y earnings comps, gross margin expansion, and a rebound in RV sales/consumer discretionary spending as inflation moderates.