Texas Capital Upgrades Brunswick on Attractive Valuation

Texas Capital Securities upgraded Brunswick Corporation (NYSE: BC) to Buy from Hold with a $91 price target.

The firm said the upgrade was driven primarily by valuation following a significant decline in the company’s share price. Brunswick shares have fallen 17.5% since January 12, 2026, when the firm downgraded the stock on valuation grounds, compared with a 2.7% drop in the Russell 2000 index.

Texas Capital noted that its earlier downgrade had been purely valuation-driven as shares approached its price target. With the stock now trading lower, the analyst believes the risk-reward profile has become more attractive.

The firm also said it has not observed any fundamental deterioration in demand conditions for the recreational marine industry. While higher fuel prices could present some risks to consumer spending, the analyst believes those pressures are more likely to affect households outside the typical boat-buying demographic.

Additionally, the firm said the impact of fuel costs on boat ownership and operating expenses should remain relatively modest.

Texas Capital did not change its earnings estimates or valuation multiple and continues to believe Brunswick is well positioned to benefit from sustained boating participation trends and a potential rebound in demand for new boats over the next 12 to 18 months.