B. Riley analyst Eric Wold downgraded Brunswick (BC) to Neutral from Buy with a price target of $88, down from $95. The firm remains positive on the company’s market share leading positioning within the recreational marine industry, but believes the “demand pivot” to more normalized consumer demand may take longer to materialize, especially among the lower-income, payment buyers. Given these concerns and the risk that consensus estimates for 2025 may need to move lower with management likely to take a conservative stance with initial 2025 guidance, Riley is moving to the sidelines until demand visibility improves and a stronger valuation argument could be made for the shares looking out to 2026, the analyst tells investors in a research note.
