Citi raised the firm’s price target on Brunswick to $104 from $96 and keeps a Buy rating on the shares. The analyst says demand for premium boat brands has consistently outpaced that for more value-oriented offerings. Boston Whaler, Sea Ray, Bennington, and Hurricane appear to have had solid show seasons, with unit sales growth during the early boat shows, the analyst tells investors in a research note. The firm nudged up boat multiples to be in-line with pre-pandemic multiples, as it believes boat sector earnings are approaching a bottom.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BC:
- Brunswick management to meet with B. Riley
- Brunswick Corporation Declares Quarterly Dividend
- Brunswick board raises quarterly dividend 5% to 42c per share
- Brunswick Corporation Named to the Forbes America’s Best Large Employers List for the Sixth Consecutive Year
- Brunswick’s Fliteboard introduces Flite AIR, Flite AIR PRO
