Following another upbeat earnings report from Camping World Holdings (CWH 1.12%), Wall Street is becoming decidedly more bullish about the recreational vehicle (RV) retailer, with no fewer than four firms issuing new higher price targets for its stock.
The RV lifestyle got a significant boost from the pandemic as people sought to escape the confines of urban and suburban living for the great outdoors. Camping World's report indicates that this mindset is continuing into 2021 with first-quarter revenue surging 52% higher to $1.56 billion, leading it to raise its full-year guidance.
CEO Marcus Lemonis says Camping World now believes adjusted EBITDA for 2021 will come in between $770 million and $810 million, or 19% higher at the midpoint from its previous guidance.
Camping World's robust first-quarter results and improved outlook for the year have Wall Street seeing its stock rise as a result.
Baird analyst Craig Kennison hiked his price target on the RV retailer to $56 per share from $46, though he kept a neutral rating on the stock. Monness, Crespi, Hardt analyst Jim Chartier has a buy rating on the stock, but raised his target to $60 per share from $49 on "another meaningful beat."
Calling the RV lifestyle leader a "compelling investment idea," Truist analyst Michael Swartz raised his price target to $56 per share from $42, while also maintaining his buy recommendation.
The most bullish of them all, however, was BMO Capital analyst Gerrick Johnson, who hoisted his target to a high of $63 per share from $50 and said Camping World is best able to capture RV demand through its sales, products, and services.
Camping World Holdings closed Tuesday at just under $48 a share.