Exane BNP Paribas analyst Xian Siew downgraded Brunswick to Neutral from Outperform with a price target of $82, down from $94. The firm thinks there is investor appetite for early cyclical names if earnings are troughing, but sees risks to 2024 guidance and sees regulations risk in 2025 for Brunswick, the analyst tells investors, adding that consensus “numbers seem too high” for 2024 and 2025.
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