Fly News Breaks for July 2, 2019
BC
Jul 2, 2019 | 08:06 EDT
Wedbush analyst James Hardiman lowered his price target for Brunswick to $53 from $68 as the first half of 2019 couldn't have seen much worse weather. While the analyst does think underlying demand trends are solid and even if he does see a pick-up in demand in second half, a significant amount of 2019 earnings power has been lost. Hardiman reiterates an Outperform rating on the shares as he believes a "disappointing" year is priced into the stock, and that the ongoing tailwinds from the engine business and a bargain-basement valuation are enough for him to wait out the season, especially given the potential for catch-up demand in coming months.
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