UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Brunswick Corporation

In a report published Monday, BMO Capital Markets reiterated its Market Perform rating on Brunswick Corporation

, and raised its price target from $23.00 to $25.00. BMO Capital noted, “BC reported 3Q12 EPS of $0.43, excluding one-time items. This was ahead of our expectation of $0.37 and well ahead of the Street's expectation for $0.29. The company reported EPS of $0.33 excluding one-time items in the year-ago period. While earnings exceeded our estimate, the outperformance came from gross margin improvement, with sales underperforming our expectations. We believe the company's strong execution in a sluggish boat market is encouraging, and helped the stock recoup some recent losses in the market. However, we still believe macro risk and industry uncertainty still outweigh the company's good near-term execution.” Brunswick Corporation closed on Friday at $23.05.