Following the company's investors' day, the analyst notes BC's tempered '23/'24 commentary and the rolling back of prior L-T organic financial targets by 24 months ($15 in EPS by '27).

While acknowledging that current market-related volatility and persisting uncertainty around '24 earnings power will remain overhangs on the stock in the near term, the analyst remains constructive on the long-term view.

After attending the investor's day, the analyst lowered the 2023/2024 adj. EPS estimates to $9.00 and $8.85, respectively (vs. $9.52 and $10.25 prior).

With regard to '24, management anticipates a relatively stable demand environment (~150k domestic units retailed) with "flattish" sales/EPS YoY, Swartz adds.

For 2027, BC is targeting revenue of $8.7 billion and EPS of ~$15.

KeyBanc Capital Markets analyst Noah Zatzkin sees near-term headwinds to persist for the company. 

Following the investors' day, Zatzkin's FY23E EPS estimate goes to $9.30 (from $9.50) via the persistent marine channel pressures and weaker engine/Navico orders.

For FY24, the analyst's EPS goes to $9.30 (from $10.15), reflecting softer 1H24 engine/boat dealer/OEM appetite and mgmt's expected flattish industry boat retail. 

The analyst maintains a Sector Weight rating on the stock. 

Price Action: BC shares are trading higher by 1.99% to $77.79 on the last check Tuesday.