Financial firm B. Riley & Co. listed Brunswick Corp. among its top picks for company and stock performance in 2017, stressing that it expects marine markets to improve throughout the year.
The firm chose 17 companies it expects to be top performers from among the 247 that it covers.
“Specifically within its marine segment, we see continued domestic improvement — both in units and ASPs as the overall industry continues its recovery, [which is] still very depressed versus pre‐recession norm, with near‐term demographic tailwinds,” B. Riley analyst Jimmy Baker wrote in a brief commentary about the choice.
Brunswick continues to deliver innovative models, he wrote, and early-season boat show data points “are encouraging.”
The firm expects Brunswick’s shares to rise to its $65 price target, an 18.6 percent increase from its $54.80 trading price on Monday.