MasterCraft Boat price target lowered to $23 from $28 at Truist

Truist lowered the firm’s price target on MasterCraft Boat to $23 from $28 and keeps a Hold rating on the shares. The company reported a “solid” Q4 print but also issued softer than anticipated FY24 guidance, the analyst tells investors in a research note. The outlook will likely prove to be “conservative”, but the dealer hesitancy to stock MY24 product in the second half of 2023, combined with MasterCraft’s relatively more aggressive pricing actions over the past 36 months, have become greater-than-anticipated headwinds, the firm added.