Monness Crespi analyst Jim Chartier believes Thor's (THO) commentary is supportive of Camping World's (CWH) outlook, with his most meaningful takeaway the 20% year over year decline in Thor's dealer inventory at the end of March. This was in line with Camping World's reported decrease and an improvement from last quarter's 11% decline, he notes. The analyst also believes reduced inventory levels and the shift to smaller, more frequent replenishment orders will result in a less promotional environment for the balance of 2019, while Thor's outlook for the North American retail market is softer than three months ago but in line with Camping World's guidance. Chartier has a Buy rating and $19 price target on Camping World's shares.