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Fly News Breaks for August 22, 2019
BC
Aug 22, 2019 | 08:22 EDT
BMO Capital analyst Gerrick Johnson lowered his price target on Brunswick to $63, saying his recent channel checks with boat dealers suggest that while performance in late-July/early-August has "ticked up", customers do not appear to be rushing to buy this year. The analyst adds that more customers are "haggling" with dealers on price relative to the past years, noting that despite the retail "uptick", demand remains "tepid" and inventories are "heavier than ideal". Johnson still keeps his Outperform rating on Brunswick, saying the company is gaining share with innovation while its accessories business gives it some stability that is currently underappreciated in the market.
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