** MarineMax's HZO.N shares jump 6.4% premarket to $30.89 after Citi upgrades to "buy" from "", saying recreational boat retailer to benefit from lower interest rates
** Brokerage hikes PT by $4 to $44, implying ~52% upside to stock's last close
** HZO a strong play on the Fed pivot, as boat affordability has been hit perhaps hardest by higher-for-longer rate environment and co should benefit "mightily in a soft-landing scenario," Citi writes in to clients
** Separately, opportunity to monetize significant marina real estate is "as imminent as it has ever been", Citi says, adding that despite management's "historical hesitation to do so, pressure will only grow if the traditional/fundamental path to upside proves distant/unlikely"
** In early Jul, private equity firm Island Capital Group proposed to acquire up to 100% interest in HZO's yachting and marina related services (YMRS) business
** In early Jun, Bloomberg reported HZO was in deal talks with rival OneWater Marine ONEW.O
** Through Fri close, HZO's shares off 25% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))