Shares of recreational vehicle and associated products provider Camping World (NYSE:CWH) are in focus today after the company announced plans to add 15 dealership locations in the first quarter of 2024. The company began by closing its acquisition of Ashley Outdoor today.
Camping World’s Chairman and CEO, Marcus Lemonis, commented, “As we start 2024, we are driven towards our goal of increasing our dealership count to over 320 locations in the next five years.”
The company is aiming to open additional locations before the selling season this year. Importantly, Camping World could benefit from the improving macroeconomic sentiment and the much-anticipated rate cuts this year.
What is the Target Price for CWH Stock?
Roth MKM’s Scott Stember has a Buy rating on the stock alongside a $30 price target. The analyst anticipates a “Bottoming of new RV demand trends” and views the stock favorably due to its “Well developed used RV business.”
Overall, the Street has a Strong Buy consensus rating on Camping World. Following a nearly 20% jump in the company’s share price over the past month, the average CWH price target of $24.80 implies a potential downside of 5.6% in the stock.
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