Malibu Boats price target raised to $50 from $40 at Baird

Baird raised the firm’s price target on Malibu Boats (MBUU) to $50 from $40 and keeps an Outperform rating on the shares. The firm said they reported a sharp drop in shipments as management partners with dealers to reduce channel inventory. Baird’s work suggests dealer inventory is significantly, taking some of the edge off a highly promotional environment.