Analyst sees a more stable Brunswick in 2010


An analyst covering Brunswick Corp. says he is raising his "fair value estimate" for the company.

"We are raising our fair value estimate for Brunswick and lowering our fair value uncertainty rating in light of the stabilization of the firm's liquidity position," wrote Philip Gorham, a stock analyst for Morningstar. "However, we think that Brunswick still faces considerable business and financial risk."

Gorham said he believes the immediate threat to Brunswick's survival has eased, with the demand for boats and the company's liquidity position stabilizing.

"As a result, we have lowered the weight of the bankruptcy scenario in our fair value estimate to 5 percent from 25 percent, and this is the primary driver of the increase in our fair value estimate," Gorham wrote.

"Although we think the immediate threat to Brunswick's survival has eased, we do not think the firm is yet out of the woods. Demand for boats is still very weak, and a major dealer default could yet plunge Brunswick into a liquidity crisis," he added.

Click here for the full report.


German Superyacht Yard Files for Bankruptcy

Nobiskrug cited a lack of orders, the Covid-19 pandemic and other factors in its decision to start the proceedings.

West Marine Acquired

The private-equity firm L Catterton will take a controlling interest in the retailer’s ownership.

Kicker Supports Two Events on Lake Havasu

The marine audio company will take part in the performance-boat events Super Cat Fest West and the Desert Storm Poker Run this weekend and next.

Bay Bridge Show Starts Tomorrow

The combined sail- and powerboat show runs through Sunday in Stevensville, Md.

Brunswick Corp. Arranges Covid-19 Vaccinations

The marine-industry conglomerate aims to protect employees and their communities against Covid-19.

Kadey-Krogen Announces New Ownership Structure

This summer, the builder and its new investor plan to reveal a five-year innovation and strategic plan.

What is America’s Finest Harbor?

Online voting is open in the US Harbors competition for the best U.S. harbor.

Bruce Van Wagoner to Retire

The 45-year industry veteran was marine group president for Wells Fargo Distribution Finance.

Patrick Acquires SeaDek Parent

The Indiana-based company continues its strategy of growth through acquisitions.