DA Davidson starts Lazydays at Neutral, concerned with sales trends near-term

As previously reported, DA Davidson initiated coverage of Lazydays with a Neutral rating and $12 price target. The analyst says the firm is cautious on the name due to concerns surrounding the trajectory of Recreational Vehicle industry retail sales over the next 6-12 months, given the elevated interest rate environment and affordability issues that have yet to be addressed. DA Davidson adds however that it would get more constructive on the company given evidence of improving RV retail trends and incremental margin stabilization.