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UPDATE: UBS Raises PT on Polaris Industries Following Strong Response to Indian Brand

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RBC Capital Downgrades Polaris, Says Transition Will Last Longer Than Previously Thought

In a report published Friday, UBS Securities analyst Robin M. Farley reiterated a Buy rating on Polaris Industries (NYSE: PII), and raised the price target from $121.00 to $142.00.

In the report, UBS Securities noted, “Our channel checks indicate strong response to the Indian brand and dealers taking orders from buyers that in some cases have not even seen or driven the product. Though dealers expected to keep a certain number of floor models, some have sold them down to just 1-2 bikes on the floor to make pre-sales on bikes that haven't shipped yet. It sounds to us from both mgmt & channel checks that biggest issue for Indian is supply constraints - esp the new paint system to be installed mid-'14. So we are not adjusting our '13 est, but we do see upside to our '14 outlook prior to the new launch. Now assuming 15K units shipped in ‘14 and 21K units in ‘15, low incremental growth in '15 after production ramp in '14.”

Polaris Industries closed on Thursday at $128.50.

Latest Ratings for PII

DateFirmActionFromTo
Jul 2015RBC CapitalDowngradesOutperformSector Perform
Jul 2015JP MorganInitiates Coverage onNeutral
Jul 2015CL KingInitiates Coverage onBuy

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View the Latest Analyst Ratings

Posted-In: Robin M. Farley UBS SecuritiesAnalyst Color Price Target Analyst Ratings

 

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