Truist analyst Michael Swartz lowered the firm’s price target on Brunswick to $105 from $115 but keeps a Buy rating on the shares. The analyst cites a softer than anticipated Q4 earnings print and below-consensus initial FY24 guidance. Macro uncertainty will continue to influence the stock in the near term with shares trading at just 7-times expected FY24 EBITDA, but Brunswick’s outlook for the year ahead is also “achievable”, the firm added.
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