OneWater Marine price target lowered to $25 from $30 at Truist

Truist lowered the firm’s price target on OneWater Marine (ONEW) to $25 from $30 and keeps a Buy rating on the shares as part of a broader research note on Leisure products and facilities as well as Recreational Vehicles. Sluggish consumer demand, uncertainty around the pace/magnitude of Fed rate cuts, and renewed trade/tariff concerns post-election day yielded yet another challenging year for the industry in 2024, and the Recreation & Leisure – R&L – index underperformed the broader market for the third straight year, though the firm’s framework for 2025 reflects a steady, but not stellar, consumer spending environment, the analyst tells investors in a research note. Historically-depressed relative valuations also provide a more supportive R&L investing backdrop as it trades at a nearly 5-turn discount vs. the S&P500, which compares to the more typical 1x-2x discount, the firm adds.