BofA/Merrill analyst John Lavallo downgraded Camping World to Underperform from Neutral and lowered his price target for the shares to $13 from $15. Following the company's "challenging" Q1 results, its outlook for 2019 seems "optimistic," Lavallo tells investors in a research note. He points out that despite reporting EBITDA roughly 50% below consensus amid uncertain demand environment for recreational vehicles, Camping World maintained its fiscal year outlook for between $320M-340M in adjusted EBITDA. The analyst expects the company to revise its financial outlook lower as the year progresses.