MarineMax price target lowered to $40 from $45 at Truist

Truist analyst Michael Swartz lowered the firm’s price target on MarineMax to $40 from $45 and keeps a Buy rating on the shares. The analyst cites the company’s disappointing Q1 earnings and FY24 guidance cut, also noting that the stock could remain range bound until there is greater clarity on retail demand. Truist adds however that outside of a broader macro downturn, the firm sees limited downside to the shares from here.