MasterCraft Boat price target lowered to $15 from $20 at Truist

Truist lowered the firm’s price target on MasterCraft Boat to $15 from $20 and keeps a Hold rating on the shares as part of a broader research note on Recreational Vehicles following the firm’s recent discussions with dealers. Truist’s takeaways are that retail demand remains sluggish, aging is a growing concern, and restrained model-year 2025 commitments, or orders, are likely to preclude a broader earnings recovery before 2025, the analyst tells investors in a research note. The firm adds that it anticipates negative 2024 guidance revisions or softer initial FY25 outlooks across the RV space over the next 3-6 weeks.