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Fly News Breaks for July 21, 2017
HZO
Jul 21, 2017 | 07:18 EDT
SunTrust analyst Michael A. Swartz says that MarineMax's stock poses "limited risk" after the company reported weaker than expected Q3 results and the shares tumbled 26%. He adds that the company's unit volume actually rose by mid single percentage digits last quarter, and he believes that underlying boat demand remains healthy. The analyst adds that demand for the company's larger boats which had been down sharply last quarter have started to rebound in recent weeks. He cut his price target on the name to $20 from $26 but keeps a Buy rating.
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