MasterCraft Boat price target lowered to $17 from $19 at B. Riley

B. Riley analyst Anna Glaessgen lowered the firm’s price target on MasterCraft Boat (MCFT) to $17 from $19 and keeps a Neutral rating on the shares. MasterCraft Boat’s Q3 results were ahead of expectations, with modest sales upside amplified by better-than-expected margins, the analyst tells investors in a research note. Despite a moderated retail outlook, the firm is encouraged that the company remains on track to reduce channel inventories toward the high end of the previously discussed target range of 600-1,000 units.