Wedbush Securities has published a research report on Brunswick Corporation BC and has raised the price target from $26 to $31 as the company is seeing improved outlook for fiberglass boats.
In the report, Wedbush writes, "At the annual Miami boat show, North America's largest industry event, Brunswick management noted a slightly improved marine market outlook since the company's Q4 earnings call in January. Citing encouraging feedback from early season boat shows, management now indicates larger fiberglass boats (69% of Boat segment sales) may be flat in 2012, as opposed to an earlier outlook for slight declines vs. 2011. Management continues to maintain a 2012 outlook for mid-single-digit growth in aluminum boats (31% of Boat segment sales). Therefore, the total marine market may indeed see positive low-single-digit growth in 2012, an improvement over flat overall trends seen in 2011."
Wedbush maintains its Outperform rating on Brunswick, which is currently trading down $0.07 from yesterday's $24.43 closing price.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in