MarineMax price target lowered to $37 from $43 at Stifel

Stifel lowered the firm’s price target on MarineMax to $37 from $43 and keeps a Buy rating on the shares after the company reported “mixed” fiscal Q1 results. Management cited a “challenging retail environment” and in response used more aggressive discounting to stimulate demand, leading to a bottom-line shortfall, while FY24 guidance was cut and the firm has reduced estimates accordingly, the analyst tells investors.