UPDATE: B.Riley Upgrades MarineMax (HZO) to Buy
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B.Riley analyst Eric Wold upgraded MarineMax (NYSE: HZO) from Neutral to Buy with a price target of $57.00.
The analyst comments "
Reevaluating our prior demand regression concerns with checks finding new boat demand remains robust. We now expect new boat demand and delayed deliveries to keep revenues elevated well into FY22. We see an upside bias to near-term estimates and expect a guidance hike on strong sales and Cruisers acquisition. The strengthened balance sheet from improved cash flows reduces interest expense and provides M&A options."
Shares of MarineMax closed at $45.19 yesterday.
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