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Fly News Breaks for September 4, 2019
CWH, PATK, THO
Sep 4, 2019 | 07:44 EDT
BofA Merrill Lynch analyst John Lovallo said he sees "little obvious relief in sight" after months of soft North American RV wholesale shipment and retail registration and he lowered his 2019 industry volume estimates by an average of 3%. He also cut his 2020 and 2021 estimates by roughly 15% and lowered his estimates for Camping World (CWH), Thor Industries (THO) and Patrick Industries (PATK). The analyst, who cut his price target for Camping World to $7 from $10, lowered his target on Thor to $47 from $58 and reduced his Patrick target to $36 from $51, keeps Underperform ratings on all three RV stocks.
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