UPDATE: Wunderlich Securities Initiates Coverage on Polaris Industries with Buy Rating, $178 PT on Positive Catalysts

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In a report published Friday, Wunderlich Securities analyst Rommel Dionisio initiated coverage on
Polaris IndustriesPII
with a Buy rating and $178.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of Polaris Industries Inc. (PII) with a Buy rating and a $178 price target, derived using a 1.2x 2015E PEG ratio multiple. Polaris has displayed strong double-digit growth for many years, frequently beating management guidance and consensus forecasts through impressive market share gains in its core side-by-side segment. We believe market share gains in single-seat ATVs as well as motorcycles, both driven by new product launches, can accelerate sales growth in these two segments and help Polaris sustain strong overall double-digit growth. In addition, the almost simultaneous launch of three key new products in Sept./Oct. could deliver upside to estimates for 4Q14 and 2015 and act as important near-term catalysts for the stock.” Polaris Industries closed on Thursday at $149.79.
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Posted In: Analyst ColorInitiationAnalyst RatingsRommel DionisioWunderlich Securities
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