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UPDATE: Wedbush Raises PT on Polaris on Market Share Gains in North America

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In a report published on Tuesday, Wedbush analyst Rommel Dionisio raised the price target on Polaris (NYSE: PII) from $100 to $107, and maintained an Outperform rating.

In the report, Wedbush noted, "Channel checks indicate Polaris continues to gain market share in the North American ORV market, despite competitive entrants in the lucrative side-byside (SxS) market. Following another channel check we conducted of over 55 offroad vehicle (ORV) dealers in North America, dealers noted Polaris continues to build upon its already market leading share of the high-margin, fast-growing SxS segment. Overall, the ORV market appears to be seeing an encouraging rebound QTD, following a retail sales decline in Q1 due to inclement late-winter weather hampering consumer traffic in dealerships in March. Such market share gains for Polaris come at an important time, as the company is reducing dealer inventories, particularly of high performance RZR models, in anticipation of an upcoming major new product launch in July, not to mention in the face of increased competition from recent new SxS launches from Arctic Cat and Bombardier/Can Am."

Polaris closed at $92.05 on Monday.

Latest Ratings for PII

DateFirmActionFromTo
Jul 2014CitigroupMaintainsBuy
Jun 2014Stephens & Co.Initiates Coverage onOverweight
Jun 2014RBC CapitalInitiates Coverage onOutperform

View More Analyst Ratings for PII
View the Latest Analyst Ratings

Posted-In: Rommel Dionisio WedbushAnalyst Color Price Target Analyst Ratings

 

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