Camping World price target lowered to $26 from $32 at Citi

Citi lowered the firm’s price target on Camping World to $26 from $32 and keeps a Buy rating on the shares as part of a broader research note on the RV space of U.S. Leisure. The analyst is citing the ongoing retail weakness and pricing pressure, stating that since the firm’s last update, the gradual improvement in retail that the firm had expected has not materialized. RV registrations in August – the most recent available datapoint – saw a sequential deceleration on y/y basis, the firm tells investors in a research note. As retailers work through model-year 2023s, this puts downward pressure on pricing and gross margin for the second half of 2023, Citi added.