MasterCraft Boat price target lowered to $25 from $40 at Raymond James

Raymond James lowered the firm’s price target on MasterCraft Boat to $25 from $40 and keeps an Outperform rating on the shares. The company reported “better than expected” Q4 results, the analyst tells investors. However, poor weather and macro headwinds results in soft Q4 retail and, despite production cuts, FY23 wholesale outpaced retail by greater than 1,400 units, the firm says. MasterCraft provided FY24 guidance that was “well below expectations,” resulting in the firm reducing its price target on the stock.