Wunderlich Securities Sees Encouraging Pre-Season Outlook For Brunswick

In a report published Tuesday, Wunderlich Securities analyst Rommel Dionisio reiterated a Buy rating and $65.00 price target on

. In the report, Wunderlich Securities noted, "In our final of a series of follow-up channel checks of the marine industry after major winter boat shows, regional dealer feedback following the Miami and Seattle boat shows was very positive, though partially offset by disappointing regional feedback from the New England show. Overall, marine industry dealers are entering the peak spring/summer boating season with increased pre-season orders, higher confidence in customer conversion rates given an improved macro environment, and expectations for higher usage/participation this season given lower fuel prices. Therefore, with improving visibility on the boat market recovery, we believe Brunswick (BC) shares should trade at a 25% premium to the peer group average, or an 11.5x EV/2015E EBITDA multiple, generating our price target of $65." Brunswick closed on Monday at $52.67.