MasterCraft Boat price target lowered to $22 from $24 at B. Riley

B. Riley lowered the firm’s price target on MasterCraft Boat to $22 from $24 and keeps a Neutral rating on the shares. The analyst says delayed interest rate cut expectations could impact boat demand into year-end. Rhe new thought that rate cuts could be delayed into late 2024 could play negatively into both underlying boat demand and management outlooks on the upcoming earnings calls, the analyst tells investors in a research note. The firm is “increasingly cautious” on the potential impact on inventories and demand heading into the new fiscal year.