MarineMax price target lowered to $42 from $44 at DA Davidson

DA Davidson analyst Brandon Rolle lowered the firm’s price target on MarineMax to $42 from $44 but keeps a Buy rating on the shares after its Q1 earnings miss and FY23 guidance cut. The company indicated that it began to see weaker than expected retail demand during the October-December timeframe, which is in-line with the firm’s most recent Boating Industry Checks, the analyst tells investors in a research note. DA Davidson adds however that a Buy rating is still warranted as its price target reflects a "conservative" Enterprise Value to expected FY24 EBITDA estimate of 261.4M, which is above the consensus $249.5M.