Malibu Boats price target raised to $42 from $32 at Truist

Truist raised the firm’s price target on Malibu Boats (MBUU) to $42 from $32 and keeps a Hold rating on the shares after its Q1 earnings beat. The worst is likely in the rearview for Malibu, though the firm’s caution around implied second-half growth remains, along with its concern around the long-term demand and recovery profile in the company’s core ski/wake business, the analyst tells investors in a research note.