Raymond James raised the firm’s price target on MasterCraft Boat to $25 from $23 and keeps an Outperform rating on the shares. It appears that near-term results are being weighed down heavily by dealer inventory normalization to an even greater extent than peers, the analyst tells investors in a research note. Raymond James estimates estimate unit shipments in fiscal 2024 to be down more than 40%, but expects a more pronounced improvement in both revenue growth and margin expansion for MasterCraft in fiscal 2025.
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Read More on MCFT:
- MasterCraft Boat price target lowered to $21 from $23 at B. Riley
- MasterCraft Boat price target lowered to $26 from $28 at Baird
- MasterCraft Boat sees FY24 EPS $1.46-$1.88, consensus $1.80
- MasterCraft Boat Holdings, Inc. Reports Results for Fiscal 2024 First Quarter
- MasterCraft Boat reports Q1 adjusted EPS 47c, consensus 40c
