Wedbush Raises Price Target and Estimates on Polaris Industries (PII) Following Recent Market Check
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Price: $69.49 +1.24%
Rating Summary:
8 Buy, 22 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 22 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush is reiterating its Outperform rating on shares of Polaris Industries (NYSE: PII) as it is increasing its price target from $129 to $134 following positive channel checks in ATVs.
The firm surveyed 50 ATV dealers around the country which highlighted that sales were increasing with side-by-sides leading the growth. Numerous dealers cited improving availability of consumer financing as a key driver to recent sales trends.
PII is currently the leader in the side-by-side market with roughly 50 percent of total sales, but is due to face some strong competition from Arctic Cat (Nasdaq: ACAT) with the release of its new Wildcat. Wedbush noted that there was much hype among dealers on the new Wildcat.
Promotional deals from all companies in the industry have been cut from last year.
Wedbush is raising its 2011 revenue estimate from $2.38 billion to $2.41 billion and its 2012 from $2.55 billion to $2.63 billion. It is raising its EPS estimates for 2011 and 2012 from $5.68 and $6.30 to $5.84 and $6.85.
For more ratings news on Polaris Industries click here and for the rating history of Polaris Industries click here.
Shares of Polaris Industries closed at $99.73 yesterday.
The firm surveyed 50 ATV dealers around the country which highlighted that sales were increasing with side-by-sides leading the growth. Numerous dealers cited improving availability of consumer financing as a key driver to recent sales trends.
PII is currently the leader in the side-by-side market with roughly 50 percent of total sales, but is due to face some strong competition from Arctic Cat (Nasdaq: ACAT) with the release of its new Wildcat. Wedbush noted that there was much hype among dealers on the new Wildcat.
Promotional deals from all companies in the industry have been cut from last year.
Wedbush is raising its 2011 revenue estimate from $2.38 billion to $2.41 billion and its 2012 from $2.55 billion to $2.63 billion. It is raising its EPS estimates for 2011 and 2012 from $5.68 and $6.30 to $5.84 and $6.85.
For more ratings news on Polaris Industries click here and for the rating history of Polaris Industries click here.
Shares of Polaris Industries closed at $99.73 yesterday.
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