Shares of marine recreational products provider Brunswick Corp. (NYSE:BC) are in focus today after its unit, Navico Group, announced plans to set up two Centers of Excellence in metal fabrication and electrification at its facility in Lowell, Michigan.
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The multi-million-dollar investment is expected to enhance the company’s product manufacturing capabilities while also boosting its capacity and efficiency. Navico aims to be a leading name in metal fabrication and electrification in its targeted markets. This investment is part of the company’s strategic focus on custom battery development.
Further, the new battery facility is expected to help Navico expand its footprint globally. The company already has an electrification Center of Excellence in Amsterdam. Additionally, Brunswick has completed solar installations at three of its global facilities. The world’s biggest marine recreational technology provider is aiming to derive 60% of its electricity from renewables by the end of 2025.
Is BC Stock a Good Buy?
Brunswick shares have soared by 41% over the past year, reaching nearly $98. B. Riley Financial’s Eric Wold sees further upside in the stock with a target price of $106. The analyst has maintained a Buy rating on Brunswick.
Overall, the Street has a Moderate Buy consensus rating on Brunswick, and the average BC price target of $90.10 points to a potential downside of 8.4% in the stock.
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