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Fly News Breaks for May 10, 2019
MBUU
May 10, 2019 | 08:46 EDT
Wells Fargo analyst Timothy Conder noted that Malibu Boats shares traded only slightly higher despite the company's strong Q3 results and guidance increase, which he attributes to investor caution around tariffs and softer year-to-date marine industry retail trends. However, he continues to expect Malibu's core ski/wake segment to outpace industry growth and he sees the risk/reward as attractive given the stock's current levels. Conder keeps an Outperform rating and $52 price target on Malibu Boats shares.
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