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BB&T Capital Markets upgraded a number of recreational vehicle makers Monday (Nov. 14) on the belief that declining fuel prices may help generate consumer interest for motorhomes, given evidence that used sport utility vehicle pricing has improved.
Analyst John Diffendal upgraded Monaco Coach Corp., Thor Industries Inc. and Winnebago Industries Inc. to buy from hold. He kept his buy rating on Fleetwood Enterprises Inc. and his hold rating on Drew Industries Inc.
“Moreover, we think investor psychology is reversing as bad news is having a hard time depressing the stocks, and we sense a surge in value investing in the group that probably has established the recent bottoms,” Diffendal said.
In early trading Monday, shares of Monaco were up around 7% while Thor stock rose 2.5% and Winnebago shares increased 5%.