KeyBanc Starts Camping World Holdings (CWH) at Overweight
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KeyBanc initiated coverage on Camping World Holdings (NYSE: CWH) with an Overweight rating and a price target of $28.
Analyst Scott W. Hamann said, "We are initiating coverage on CWH with an Overweight rating, reflective of its strong growth outlook and estimates that we believe to be conservative, especially when factoring in growth in the number of dealerships more in line with its historical average. Further, we believe that CWH's leverage to a high margin/recurring revenue stream should provide some relative cushion to the perceived cyclicality of the business in the event of a downturn. Moreover, we believe little spread between CWH and the RV manufacturers' valuation relative to the auto and marine groups presents an opportunity for share price upside."
Shares of Camping World Holdings closed at $22.36 yesterday.
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