UPDATE: Citi Upgrades Brunswick Corp (BC) to Buy
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Citi analyst Shawn Collins upgraded Brunswick Corp (NYSE: BC) from Neutral to Buy with a price target of $125.00.
The analyst comments "We upgrade our rating to a Buy on Brunswick – the world’s leader in recreational boating (#1 in marine engines, leader in powerboats, & marine P&A). With its strategic realignment behind it, Brunswick is flourishing on the top-line and from a margin perspective. We are encouraged by robust marine industry conditions, the inventory restocking cycle (2-3 years), leading margins, and valuation levels in-line with other leisure names rather than at a premium. In addition, a strong economy, low financing rates, and a healthy consumer provide for a favorable backdrop."
Shares of Brunswick Corp closed at $104.52 yesterday.
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