Malibu Boats price target lowered to $39 from $45 at B. Riley

B. Riley analyst Anna Glaessgen lowered the firm’s price target on Malibu Boats (MBUU) to $39 from $45 and keeps a Neutral rating on the shares after assuming coverage of the name. B. Riley is broadly cautious on the marine space given persisting demand headwind, and the price target decrease reflects the challenging retail environment, the analyst tells investors in a research note. The firm will be looking for opportunities to get constructive as demand visibility improves.