Winnebago Industries, Inc. (WGO) shares moved marginally lower to test trendline support. However, Winnebago could rebound after Citi upgraded the stock to Buy with a price target of $63 per share.
Key Takeaways
- Winnebago shares tested trendline support after Citi upgraded the stock to Buy with a $63 price target.
- Analyst Shawn Collins believes that a return to conventional travel is years away and that the attractiveness of recreational vehicles (RVs) will persist.
- Traders should watch for a rebound from trendline support toward $52.29 or prior highs of around $59.00 over the coming sessions.
Citi analyst Shawn Collins believes that a return to extensive travel via planes, cruises, and hotels is several years away and that the attractiveness of RVs is here to stay. With Winnebago shares nearly 30% lower since early July, Collins believes that the stock’s valuation is…
