Gerrick Johnson, an analyst from Seaport Global, has initiated a new Buy rating on Malibu Boats (MBUU).
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Gerrick Johnson gave his rating based on several factors, including the cyclical nature of the marine industry and its current state of recovery and growth potential. He believes that this is an opportune moment to invest in the industry, noting that Malibu Boats is particularly well-positioned due to its strong portfolio of premium boat brands, which offer opportunities for synergies and expansion.
Johnson also highlighted the strategic direction under the leadership of Steve Menneto, Malibu Boats’ relatively new CEO, who has been in the role for 16 months. He expressed confidence in the company’s B.I.G. strategy, which he views positively, and sees significant upside leverage to the company’s operating model. With these factors in play, Johnson set a price target of $36, reflecting his belief in the company’s potential for sustained growth and value creation.