Brunswick price target raised to $101 from $92 at Citi

Citi raised the firm’s price target on Brunswick to $101 from $92 and keeps a Buy rating on the shares. The biggest risk to 2024 guidance is that given a weak retail environment to finish out boat season, Brunswick will have to step up promotions even further to clear out non-current inventory, weighing on margins even more than what was implied in the deflated outlook coming out of Q2, the analyst tells investors in a research note. However, the firm believes that investors would quickly look past this reduction if the end result is a manageable channel headed into next year.