Brunswick Corp (BC) PT Raised to $132 at Jefferies After Analyst Day

May 11, 2021 12:03 PM EDT
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Price: $96.05 +0.46%

Rating Summary:
    13 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 20
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Jefferies analyst Anna Glaessgen raised the price target on Brunswick Corp (NYSE: BC) to $132.00 (from $130.00) after attending the company's analyst day and walking away encouraged. Key takeaways include:

BC's launching its first Advanced Driver Assistance Systems (ADAS) product with the Boston Whaler 380 Realm equipped with Docksense later this year

BC planning to launch 5 electric propulsion products and electric boats in 4 different segments by 2023

Mercury's US market share surpassed 45% in 2020 (up from low 40s in 2019), with sights on approaching 50% by the end of the planning cycle.

Surge in first time boat buyers continues positioning BC well, owning 3/4 best known boat brands

Targets for the Business Accelerations Group for 2024 include: (1) $100M+ revenue; (2) 400+ club locations; (3) 65K memberships; (4) 6.5K boats in fleet.

The analyst reiterated a Buy rating, stating "We came away from today's analyst day encouraged by the impressive slate of ACESdriven product launches over the next few years, detail around Mercury's strong share gains (which should continue), and greater appreciation for the Business Acceleration segment".

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