B. Riley lowered the firm’s price target on Malibu Boats to $56 from $59 and keeps a Neutral rating on the shares. Malibu Boats reported Q1 net sales above the firm’s estimate, with management noting a deteriorating retail environment with credit buyers more likely to be on the sidelines, the analyst tells investors in a research note. Management no longer expects a demand recovery in 2H24, but is optimistic after Fort Lauderdale show results, the firm says.
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