Malibu Boats price target lowered to $31 from $34 at Truist

Truist analyst Michael Swartz lowered the firm’s price target on Malibu Boats (MBUU) to $31 from $34 and keeps a Hold rating on the shares as part of a broader research note previewing Q1 results in marine RVs. The firm remains more favorable to diversified companies by geography and revenue stream in an environment of still challenged new boat sales and a challenging retail backdrop, the analyst tells investors in a research note.