Wells Fargo Downgrades Malibu Boats (MBUU) to Market Perform

Wells Fargo downgraded Malibu Boats (NASDAQ: MBUU) from Outperform to Market Perform with a price target of $44.00 (from $39.00).

The analyst says the current valuation reflects the following factors and therefore steps to the sidelines:

1. current US boat market fundamentals/dynamics supporting a broad recovery,
2. Crossover interest from adjacent boat segments,
3. Sustained innovation driving volume gains and higher unit economics,
4. Largely untapped int'l markets and,
5. Cobalt/vertical integration opportunities.

For an analyst ratings summary and ratings history on Malibu Boats click here. For more ratings news on Malibu Boats click here.

Shares of Malibu Boats closed at $40.36 yesterday.

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Cummins (CMI) PT Lowered to $675 at Jefferies
• DA Davidson Starts Comfort Systems USA (FIX) at Buy