Brunswick falls after JPM downgrades to 'neutral', cuts PT to Street-low

Brunswick

11/09/2023 11:56

** Recreational marine products maker Brunswick  BC.N  falls
2.1% to $74.8 in premarket, after J.P.Morgan downgrades to
"neutral" from "overweight"
    ** JPM cuts co's PT to $79 from $109, the lowest among
sixteen analysts' covering the stock, as per LSEG data
    ** Brokerage expects flattish retail boat demand in FY24
    ** Says it is cautious due to high interest rates impacting 
consumer demand and sentiment of marine dealers with continued
recessionary risk in the near term 
    ** BC up ~6% YTD, as of last close
    
    

 (Reporting by Siddarth S in Bengaluru)
 ((Siddarth.s@thomsonreuters.com;))