MarineMax price target raised to $33 from $29 at Citi

Citi analyst James Hardiman raised the firm’s price target on MarineMax to $33 from $29 and keeps a Neutral rating on the shares. The analyst says demand for premium boat brands has consistently outpaced that for more value-oriented offerings. Boston Whaler, Sea Ray, Bennington, and Hurricane appear to have had solid show seasons, with unit sales growth during the early boat shows, the analyst tells investors in a research note. The firm nudged up boat multiples to be in-line with pre-pandemic multiples, as it believes boat sector earnings are approaching a bottom.