Truist raised the firm's price target on Malibu Boats to $34 from $31 and keeps a Hold rating on the shares as part of a broader research note updating the firm's models on Marine Recreational Vehicle stocks. The firm is citing its June call with a marine lender expert, indicating that lower-priced boats and higher-priced boats are transacting better than boats in the middle of the range as consumers have begun to settle into current pricing, the analyst tells investors in a research note. Truist further points to a recent bipartisan legislation that allows taxpayers to deduct 10K in paid interest and qualifying recreational boat loans.
