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Fly News Breaks for March 19, 2019
CWH
Mar 19, 2019 | 06:05 EDT
Goldman Sachs analyst David Tamberrino downgraded Camping World Holdings to Neutral from Buy and lowered his price target for the shares to $15 from $28. The analyst says that while the stock seems to have stabilized following a year of underperformance, he no longer expects improvement in results year-over-year into 2019. The recreational vehicle cycle is likely to take a pause, says Tamberrino, who continues to forecast 3% declines over the next few year. Further, Camping World's Gander Outdoors strategy is yet to see returns, and the drag likely continues into 2019, contends the analyst. He cuts his estimates and moves to the sidelines pending visibility into improved results.
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