Monaco Coach "underperform," target price reduced - update

12/03/07 - RBC Capital Markets

NEW YORK, December 3 (newratings.com) - Analysts at RBC Capital Markets maintain their "underperform" rating on Monaco Coach Corp (MNC), while reducing their estimates for the company. The target price has been reduced from $12 to $8.

In a research note published this morning, the analysts mention that the estimates for the RV industry as a whole have been reduced. Moreover, Monaco Coach’s resort lot business is facing a tough real estate market, the analysts say. The EPS estimate for 2008 has been reduced from $0.54 to $0.32.