Camping World Holdings (CWH), a retailer of RVs and related products and services, disclosed that it has made a strategic investment in Happier Camper, the developer of modular van conversion system Adaptiv™.
With this move, the Adaptiv system and technology products for van and camper conversions will be delivered to Camping World SuperCenters. With the Adaptiv system, customers can customize their vans and campers with features like coolers, sinks, toilets, bunk beds, tables, chairs, refrigerators and cooking surfaces. (See Camping World stock chart on TipRanks)
CEO and Chairman of Camping World Marcus Lemonis said, “Customers will be able to bring a shell of a van or camper to one of our nationwide SuperCenters and we will act as renovation centers and install the Adaptiv™ technology in the unit.”
On July 2, Raymond James analyst Joseph Altobello initiated coverage on the stock with a Buy rating and price target of $45 (16.8% upside potential from current levels).
Altobello said, “Camping World has been aggressively pursuing its expansion strategy and is looking to add 8-10 locations annually for the foreseeable future through a combination of both M&A and greenfield openings, while the much smaller Lazydays is also quickly expanding through both organic and inorganic means.”
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 4 Buys and 2 Holds. The average Camping World price target of $55.60 implies 44.3% upside potential from current levels.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Camping World with 11.6% of investors registered with TipRanks increasing their exposure to CWH stock over the past 30 days.
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