BRP Inc. (DOOO) PT Lowered to $75 at Citi

Citi analyst James Hardiman lowered the price target on BRP Inc. (NASDAQ: DOOO) to $75.00 (from $80.00) while maintaining a Buy rating.

The analyst comments "Shares of DOO were down 4.5% on Friday (vs. -1.7% for the S&P). As we have seen across powersports throughout the last quarter, DOO slashed FY25 guidance in the face of ongoing retail weakness and heightened competitive headwinds, both of which management expects to continue through at least the first half of FY26 (next year). Despite the cut to guidance and our estimates, we believe we are close to trough earnings at this point and believe DOO has been exceedingly prudent in its management of the business in the current environment, an approach we believe will set the company up well once retail demand improves, potentially aided by rate cuts in the coming months. As such, while our estimates and price target are down, we maintain our Buy rating."

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