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Fly News Breaks for July 22, 2019
BC
Jul 22, 2019 | 06:53 EDT
JPMorgan analyst Steven Zaccone downgraded Brunswick to Neutral from Overweight and lowered his price target for the shares to $46 from $61. Commentary from industry participants indicates worsening marine industry growth, and Brunswick is heavily exposed to the most pronounced areas of weakness in aluminum fish boats and outboard engines, Zaccone tells investors in a research note. The analyst sees downward risk to 2019 boat sales and propulsion sales from Brunswick's "heavy exposure" to weakness in aluminum fish boats.
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