Wedbush Downgrades Polaris Industries (PII) to Neutral; Increased Competition, F/X, and Weather Impacts

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Wedbush downgraded Polaris Industries (NYSE: PII) from Outperform to Neutral, price target lowered from $68 to $62.

Wedbush analyst says, "Downgrading to NEUTRAL given concerns over: 1. increased competition in side-by-sides (SxS); 2. lack of snowfall this winter hampering the snowmobile industry; and 3. negative impact from the weaker euro. Given these aforementioned factors, we are lowering our 2012 estimates for revenue to $2.83 billion from $2.90 billion, and for EPS to $3.70 from $3.80."

For an analyst ratings summary and ratings history on Polaris Industries click here. For more ratings news on Polaris Industries click here.

Shares of Polaris Industries closed at $65.32 yesterday, with a 52 week range of $46.83-$123.00.

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