MasterCraft Boat price target raised to $28 from $22 at Truist

Truist analyst Michael Swartz raised the firm’s price target on MasterCraft Boat to $28 from $22 but keeps a Hold rating on the shares. The company’s Q2 earnings beat is reflective of the exceedingly low bar provided last September, rather than a material change in demand or internal factors, the analyst tells investors in a research note. MasterCraft’s FY23 guidance also appears achievable, but the firm remains cautious heading into FY24 given relatively more aggressive pricing in recent years and its exposure to the value end of the market via its Crest brand.