What Happened?
Shares of recreational vehicle (RV) and boat retailer Camping World (NYSE: CWH) jumped 3.8% in the afternoon session after JPMorgan Chase & Co. raised its price target on the stock, while another firm expressed a positive view.
The bank boosted its price target on Camping World from $20.00 to $22.00 and kept an overweight rating on the shares. Adding to the positive sentiment, analysts at KeyBanc maintained their own "Overweight" rating and a $21.00 price target. KeyBanc's research indicated that Camping World's total vehicle revenue could come in higher than consensus estimates. Their data also suggested that the year-over-year decline in the average selling price for new vehicles was less severe than the company had previously guided.
After the initial pop the shares cooled down to $15.87, up 3.9% from previous close.
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What Is The Market Telling Us
Camping World’s shares are extremely volatile and have had 34 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 25 days ago when the stock gained 2% on the news that Citigroup maintained its "Buy" rating and increased its price target on the stock. The firm's analyst, James Hardiman, lifted the price target from $21.00 to $22.00, an increase of 4.76%. This adjustment reflected a positive sentiment towards the company's potential and signaled a confident outlook for the recreational vehicle retailer's shares.
Camping World is down 23% since the beginning of the year, and at $15.87 per share, it is trading 36.9% below its 52-week high of $25.14 from November 2024. Investors who bought $1,000 worth of Camping World’s shares 5 years ago would now be looking at an investment worth $564.57.
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