MarineMax price target raised to $37 from $34 at DA Davidson

DA Davidson analyst Brandon Rolle raised the firm’s price target on MarineMax to $37 from $34 and keeps a Buy rating on the shares as part of a broader research note on Leisure / Powersports. The firm’s boat industry inventory scrape indicated that MarineMax has made steady progress selling through non-current inventory in Q3, with less than 7% of their new inventory consisting of model-year 2023 product, the analyst tells investors in a research note. The company’s overall health of inventory has also allowed them to stock model-year 2025 units at a faster rate compared to the overall industry, setting the stage for improved new boat margins in FY25, the firm added.