Brunswick price target lowered to $85 from $92 at Citi

Citi analyst James Hardiman lowered the firm’s price target on Brunswick (BC) to $85 from $92 and keeps a Buy rating on the shares. Based on a “particularly weak” month of December as well as elevated inventories reported by MarineMax, Brunswick Boat’s largest customer, Citi thinks Brunswick will need to under-ship the channel for the early portion of 2025. The firm reduced estimates with a focus on inventories heading into 2025.