MasterCraft Boat price target lowered to $29 from $33 at Stifel

Stifel analyst Drew Crum lowered the firm’s price target on MasterCraft Boat to $29 from $33 and keeps a Buy rating on the shares ahead of MasterCraft’s fiscal Q1 report scheduled on November 8. The firm is anticipating “severe” declines to start the fiscal period, reflecting weaker retail sales and the absence of any meaningful channel refill at the dealer level, the analyst tells investors in a preview note. However, the firm is “not sure sentiment gets materially worse from here” as the stock closed at a 52-week low on Monday and it is taking “a longer-term fundamental view” in maintaining its Buy rating.