Analyst is optimistic about Brunswick stock

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RBC Capital Markets continues to recommend Brunswick stock, analyst Edward Aaron said in comments following Thursday's fourth-quarter and year-end earnings release.

"We came away sensing increased optimism by [Brunswick] management that retail conditions are beginning to improve from very depressed levels," he wrote. "While clearly too early to make a definitive call on 2011 retail, we think risk/reward on the recovery story is favorable. As we see it, [Brunswick] shares have more upside if the market turns in 2011 than downside if it doesn't."

Moving forward, the market seems more likely to grow than shrink, he added.

Though not yet calling for a recovery, management did finally "call the bottom" in the cycle, Aaron noted.

Brunswick stock opened Friday at $20.23 a share.

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