BMO Capital analyst Gerrick Johnson raised the firm’s price target on Malibu Boats to $80 from $76 and keeps an Outperform rating on the shares. The company reported a "strong" Q2 and maintained guidance as it continues to experience "resilient" consumer demand for its high-end products despite macroeconomic uncertainty, the analyst tells investors in a research note. Given its top-tier brand portfolio that still has distribution and margin white-space, Malibu Boats is well positioned to capitalize on long-term secular boating tailwinds stemming from increased consumer engagement with the outdoor lifestyle, the firm adds.
Published first on TheFly
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