Brunswick price target lowered to $106 from $108 at B. Riley

B. Riley analyst Eric Wold lowered the firm’s price target on Brunswick to $106 from $108 and keeps a Buy rating on the shares post the Q2 results. While management reduced 2023 guidance for additional unfavorable changes in channel/market dynamics in recent months, Brunswick still provides the best opportunity to generate growth in 2024 on a normalizing recreational marine industry given recent capacity increases, expected share gains, and an increased boating participant base, the analyst tells investors in a research note.