BMO Capital Maintains Outperform Rating for Malibu Boats: Here's What You Need To Know

BMO Capital Maintains Outperform Rating for Malibu Boats: Here's What You Need To Know

BMO Capital has decided to maintain its Outperform rating of Malibu Boats MBUU and lower its price target from $106.00 to $94.00.

Shares of Malibu Boats are trading down 0.69% over the last 24 hours, at $62.95 per share.

A move to $94.00 would account for a 49.32% increase from the current share price.

About Malibu Boats

Malibu Boats is a designer and manufacturer of power boats in the United States. It is the market leader in performance sport boats, sold under its Malibu and Axis brands. It acquired Cobalt Boats, a leading producer of sterndrive boats, in 2017 number-one market share position in the U.S. in the 24-foot to 29-foot segment), and Pursuit Boats, which makes high-end offshore and outboard motorboats in 2018. In 2021, it purchased Maverick Boat Group, a leading seller of flat fishing boats, with exposure to bay, dual-console, and center-console boats. Malibu has also expanded into boat trailers and accessories, and in 2020 began producing its own engines for its performance sport boats. Malibu's target market includes a wide range of water enthusiasts who embrace active lifestyles.

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Posted In: BZI-AAR-UPDATEAnalyst Ratings