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Citi raises Camping World stock target to $33, maintains buy rating

EditorNatashya Angelica
Published 02/23/2024, 01:03 PM
Updated 02/23/2024, 01:03 PM
© Reuters.

On Friday, Citi adjusted its outlook for Camping World Holdings (NYSE:CWH), a company specializing in recreational vehicle (RV) sales and related services. The price target for Camping World's shares was increased to $33.00, up from the previous target of $30.00. The firm has retained its Buy rating on the stock.

The revision comes as the RV industry shows signs of a positive shift in demand, particularly noted over the past three months for Camping World. Despite the broader industry trends, Camping World has reported a favorable increase in new unit sales.

Citi's analysis indicates that while the overall 2024 Outlook for Camping World remains largely consistent with prior expectations, there is an anticipation of more significant growth in the latter half of the year. This growth trajectory suggests that several key developments are expected to unfold over the upcoming months.

Citi's stance reflects confidence in Camping World's strategic direction and its potential for substantial earnings growth. The firm acknowledges that while the growth expected is more second-half weighted than investors generally prefer, the positive indicators observed provide a solid basis for maintaining a positive long-term view on the company's performance.

Camping World's progress has been closely monitored by investors, who have been looking for a turnaround in RV demand. This sector has experienced some volatility, but the recent performance of Camping World indicates a potential for stable growth, particularly in new RV unit sales.

The company's stock price will continue to be influenced by its ability to capitalize on the anticipated developments and the overall health of the RV market. Investors are advised to monitor Camping World's performance as it navigates through the projected growth phase in the latter part of 2024.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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