Polaris Industries (PII) PT Lowered to $79 at Roth/MKM

Roth/MKM analyst Scott Stember lowered the price target on Polaris Industries (NYSE: PII) to $79.00 (from $92.00) while maintaining a Neutral rating.

The analyst comments "We remain Neutral on PII following a quarter which saw increased retail headwinds, elevated promo activity and lost sales leverage lead to a big Q2 miss and slashing of guidance (see 7/23 flash note). We are lowering our FY24E EPS by the amount of the Q2 miss plus a more bearish 2H view, to $4.00 (from $8.11). With little reason at this time to expect a material rebound in industry demand next year, we are lowering our FY25E to $5.64 (from $9.11). We remain Neutral."

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