MasterCraft Boat price target raised to $40 from $30 at Baird

Baird analyst Craig Kennison raised the firm’s price target on MasterCraft Boat to $40 from $30 and keeps an Outperform rating on the shares. The analyst noted they beat expectations and raised F2023 guidance despite a cautious marine outlook while management said dealers have restocked ahead of the summer retail season, suggesting a return of discounts and promotions as they compete for buyers with more options.