Brunswick Navigates Turbulent Near-Term Headwinds: Analysts Warn
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities and KeyBanc Capital Markets analysts have reiterated their ratings on Brunswick Corporation (NYSE:BC) following the company's investors' day. Truist's Michael A. Swartz maintains a Buy rating with a $100 price target, despite lowering 2023/2024 EPS estimates due to market volatility and uncertainty around 2024 earnings. KeyBanc's Noah Zatzkin maintains a Sector Weight rating, also lowering EPS estimates for 2023/2024 due to persistent marine channel pressures and weaker engine/Navico orders. BC shares are trading higher by 1.99% to $77.79.
September 19, 2023 | 6:40 pm
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Analysts from Truist Securities and KeyBanc have reiterated their ratings on Brunswick Corporation (NYSE:BC) but lowered their EPS estimates for 2023/2024 due to market volatility and weaker orders. BC shares are trading higher by 1.99% to $77.79.
The analysts' reiteration of their ratings on BC indicates their continued confidence in the company despite near-term challenges. However, the lowering of EPS estimates for 2023/2024 suggests potential earnings headwinds. This mixed outlook is likely to result in a neutral short-term impact on BC's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100