OneWater Marine price target lowered to $32 from $42 at Truist

Truist analyst Michael Swartz lowered the firm’s price target on OneWater Marine to $32 from $42 and keeps a Buy rating on the shares. The company’s Q3 earnings print was “dismal”, and while the management’s actions to ‘clear the decks’ ahead of FY24 should provide a better setup for the stock, investors will need conviction that estimates have bottomed before shares can move higher, the analyst tells investors in a research note. Truist remains at Buy for “long-term oriented” investors.