Citigroup has decided to maintain its Neutral rating of BRP DOOO and lower its price target from $92.00 to $85.00.
Shares of BRP are trading up 1.46% over the last 24 hours, at $76.66 per share.
A move to $85.00 would account for a 10.88% increase from the current share price.
BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after shuttering the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia). At the end of fiscal 2022, the company marketed its products through a network of more than 2,800 independent dealers and 170 distributors in about 120 countries.
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