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NEW YORK - Shares of Monaco Coach Corp. rose on Monday, after an analyst upgraded the recreational vehicle company on a decline in the share price, despite overall softness in the sector.
| MNC | 1.25 |  -0.03 |
The stock rose 20 cents, or 4 percent, to $5.15.
RBC analyst Edward Aaron upgraded the stock to "Sector Perform" from "Underperform" on a dip in the stock price. Shares have dropped 44.3 percent so far this year.
Aaron still predicted weakness in the motor-home market and sees potential for more operating loses.
"Demand characteristics of the recreational vehicle industry remain unquestionably weak," Aaron wrote in a client note.
Aaron said consumers tend to defer these types of big-ticket purchases during periods of declining consumer confidence and rising interest rates.
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