UPDATE: Citi Upgrades Brunswick Corp (BC) to Buy
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
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.
You May Also Be Interested In
- JPMorgan Upgrades Cabot Corp. (CBT) to Overweight
- Bank Central Asia Tbk (BBCA:IJ) (PBCRY) PT Lowered to IDR37,024 at Morgan Stanley
- UPDATE: Citi Starts Plug Power (PLUG) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!