This article was originally published on TipRanks.com
Camping World Holdings, Inc. (CWH) has signed a deal to acquire the Lloyd Bridges Traveland RV dealerships in Chelsea. The deal is expected to close in early 2022.
The company provides a comprehensive portfolio of services, protection plans, products and resources for recreational vehicle enthusiasts. (See Camping World stock charts on TipRanks)
As per the agreed terms, Camping World will be taking over Lloyd Bridges’ both Michigan stores. With these additions, the company will have a presence in nine locations in the state of Michigan. Further, it has disclosed plans to open more stores.
The stores are expected to include a wide range of new and used RVs from top manufacturers, along with a full assortment of RV and outdoor products and accessories.
The CEO and Chairman of Camping World, Marcus Lemonis, said, “We continue to pursue dealership acquisitions to expand our market share and we are excited to expand in Michigan, which has great RV demographics… The Lloyd Bridges acquisition strengthens our footprint and allows us to more effectively service our RV and outdoor customer base.”
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Last month, BMO Capital analyst Gerrick Johnson maintained a Buy rating on the stock with a price target of $65 (59.2% upside potential).
Johnson said, “We think 2022 should benefit from continued interest from new buyers, trade-ups from recent new buyers, and the release of pent-up demand from existing RVers crowded out of the market during the pandemic owing to the influx of new buyers.”
Consensus among analysts is a Strong Buy based on 4 unanimous Buys. The average Camping World price target stands at $56.75 and implies upside potential of 39% to current levels.
Camping World scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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