ONEW - Baird turns bullish on boating with three upgrades

Baird lifts Malibu Boats (MBUU), MasterCraft Boat (MCFT) and OneWater Marine (ONEW) to Outperform ratings after having all three slotted at Neutral. Baird thinks positive trends in the sector can sustain into next year and sees attractive valuation. The firm assigns a price target of $64 to Malibu Boats to rep 34% upside potential, but stand below the average sell-side PT of $67.29. MasterCraft is tagged with a price target of $22.00 vs. the average Wall Street PT of $22.75 and OneWater Marine lands a PT of $30.00 vs. the average Wall Street PT of $32.67. Malibu Boats has a Seeking Alpha Quant rating of 4.46 (Bullish) and the quant rating on MasterCraft is 3.01 (Neutral).

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Baird turns bullish on boating with three upgrades