MasterCraft Boat price target raised to $22 from $20 at Truist

Truist analyst Michael Swartz raised the firm’s price target on MasterCraft Boat to $22 from $20 and keeps a Hold rating on the shares as part of its broader research note on Leisure Products, RVs, and Leisure Facilities. Given the aggressive monetary tightening by the Fed, post-COVID normalization, softer consumer demand and rising inventory levels, earnings across R&L were pressured in 2023 as the R&L index underperformed the market for the full year, but with the Fed’s tightening actions likely concluded and the market expectation that rate cuts will begin over the coming 3-6 months, there is a much stronger investment case for R&L in FY24, the analyst tells investors in a research note.