Baird analyst Craig Kennison keeps an Outperform rating on MasterCraft Boat after contacting dealers to assess fiscal Q3 trends. Dealers reported continued retail declines and ample inventory entering the key retail selling season, the analyst tells investors in a research note. Sentiment remains negative on current conditions amid economic concerns, higher boat prices, and tighter credit conditions, says the firm. It adds that while MasterCraft Boat shares have outperformed year-to-date, the stock’s valuation "remains undemanding." Baird expected retail declines, but says it seems to have fallen more than anticipated as buyer urgency "is just not there."
Published first on TheFly
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