KeyBanc Starts Malibu Boats (MBUU) at Overweight

KeyBanc initiated coverage on Malibu Boats (NASDAQ: MBUU) with an Overweight rating and a price target of $24.

Analyst Scott W. Hamann said, "We are initiating coverage on MBUU with an Overweight rating, reflective of the Company's encouraging growth prospects against an attractive industry that remains significantly off prior peak levels, driven by its leading share position and sustained momentum in Axis, with the potential to double units in the coming years. We believe a focus on vertical integration and innovation will drive margin upside going forward, topped off with royalty income expected to be in the range of $0.5 million-$0.8 million annually."

For an analyst ratings summary and ratings history on Malibu Boats click here. For more ratings news on Malibu Boats click here.

Shares of Malibu Boats closed at $19.04 yesterday.

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