Brunswick Corp (BC) PT Raised to $100 at Jefferies As Travel Spending Shifts to Entertainment

January 29, 2021 8:50 AM EST
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Price: $104.97 -0.1%

Rating Summary:
    12 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 20 | New: 68
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Jefferies analyst Randal Konik raised the price target on Brunswick Corp (NYSE: BC) to $100.00 (from $82.00) after all three segments reported sales ahead of Street expectations, as retail demand remained robust through the 'off-season', with notable outperformance from Propulsion & P&A. Dealer inventories stand 40% lower y/ y, as strong consumer demand has persisted through year-end.

The analyst reiterated a Buy rating, stating "COVID-19 has prompted a reallocation of consumer wallet share, notably away from travel and toward recreation and leisure closer to home, including boats. With leading market share in key categories, BC is well positioned to capitalize"..

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