OneWater Marine price target lowered to $30 from $34 at KeyBanc

KeyBanc lowered the firm’s price target on OneWater Marine to $30 from $34 and keeps an Overweight rating on the shares. OneWater posted Q2 results slightly below consensus and maintained its FY24 outlook, though pointed toward the lower end of ranges, while exhibiting relative resilience against a difficult marine backdrop and vs. tougher marine results thus far, the analyst tells investors in a research note. The firm remains cautious on the marine cycle, but notes OneWater’s “unique” positioning and its long-term growth algorithm and thinks near-term cycle volatility will ultimately create attractive capital deployment opportunities.