Marine Products price target lowered to $8 from $11 at DA Davidson

DA Davidson lowered the firm’s price target on Marine Products to $8 from $11 and keeps a Neutral rating on the shares. The stock traded lower since delivering in-line Q2 earnings and providing their updated thoughts on the marine industry, the analyst tells investors in a research note. Marine Products has indicated retail remains challenged exiting the main retail selling season, but the company remains committed to clearing excess inventory over the next couple quarters, the firm added.