B. Riley reverses bearish call on Brunswick on improved outlook (NYSE:BC)

Brunswick Corp (NYSE:BC) is trading more than 1% higher in premarket on the heels of an upgrade from B.Riley to Buy from Neutral.
The firm raised its price target to $108, 25% above Friday’s closing price.
Since B.Riley downgraded Brunswick (BC) in January to Neutral on its current valuation, the company has increased efforts to boost operating margins, and issued conservative 2024 guidance, according to the firm.
Additionally, underlying demand trends and the upside potential in market share also contributed to B.Riley’s more bullish outlook for the company.
On Feb. 1, the company reported Q4 results which missed Street expectations, and set Q1 and 2024 guidance that straddled expectations.
Analysts are largely bullish on Brunswick (BC) with an average Strong Buy from Seeking Alpha authors and Buy rating from Wall Street analysts. Seeking Alpha’s Quant Rating views Brunswick (BC) as a Hold.

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