The road to recovery for the company has been more tenuous than anticipated and certain headwinds are likely to persist in the near-term, though the firm continues to view Winnebago as a high-quality long-term holding, the analyst tells investors in a research note. With shares now trading at a "depressed" multiple of 6-times expected FY25 EBITDA, Truist continues to recommend the stock to "patient" long-term investor, the firm added.