Monaco Coach Corp. and Winnebago Industries Inc. stock prices hit 52-week highs on Friday (June 8) after investment firm A.G. Edwards boosted both companies’ ratings to “buy” from “maintain.”
Monaco stock closed at $23.60 a share Friday, down slightly from its new 52-week of $24.00 a share hit earlier in the trading day.
Meanwhile, Winnebago closed at $21.90 on Friday, down slightly from its new 52-week high of $22.18, which also was reached earlier in the day Friday.
The new 52-week highs established by Monaco and Winnebago on Friday eclipsed other new 52-week highs reached during the week of June 4-8.
A.G. Edwards says its “target price” for Monaco and Winnebago stock now is $30 a share.
The A.G. Edwards firm also believes Monaco’s stock could climb to $66 to $90 a share, and Winnebago’s to $49 to $64 a share, by the time the RV industry reaches its next cyclical peak.
The A.G. Edwards firm believes the RV industry now is at the trough of its cycle and that “demand should begin to modestly rebound in 2002 as the next RV cycle (upturn) begins.”
The aging Baby Boomers will provide “overwhelmingly positive” demographics for the RV industry for another 20 years and A.G. Edwards believes Monaco and Winnebago are “well-positioned to capitalize on the foibles of their competitors.”