Baird Upgrades Camping World Holdings (CWH) to Outperform
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(Updated - August 4, 2021 6:23 AM EDT)
Baird analyst Craig Kennison upgraded Camping World (NYSE: CWH) from Neutral to Outperform with a price target of $56.00.
The analyst comments "In an extremely tight market, Camping World made the most of the inventory shortage to drive record profitability. Unit economics are not sustainable, in our view, but healthy demand should keep inventory tighter for longer. Meanwhile, we like the consolidation strategy and believe an RV valuation tool positions CW to win in the used market until new inventory is replenished. Net, after a noisy but flat year for the stock, we like the entry point at 5x EBITDA ahead of an analyst event in September."
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