DA Davidson lowered the firm’s price target on Malibu Boats to $44 from $48 and keeps a Neutral rating on the shares. The company’s Q2 earnings topped estimates but the management cut its FY24 sales and EBITDA guidance for the second consecutive quarter, the analyst tells investors in a research note. The FY24 guidance revision was driven by retail trends getting sequentially worse throughout the quarter, the firm added.
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