Baird analyst Craig Kennison lowered the firm’s price target on MasterCraft Boat to $30 from $40 and keeps an Outperform rating on the shares. The firm said they beat expectations, but guided F2024 well below consensus expectations as guidance anticipates a significant destocking cycle, which explains the nearly 40% drop in revenue the team anticipates.
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Read More on MCFT:
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- MasterCraft Boat falls 23% to $19.12 after below-consensus guidance
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