Raymond James Lowers BRP Price Target As Supply Chain Snags

  • Raymond James analyst Joseph Altobello lowered the price target on BRP Inc DOOO DOO to C$135 from C$146 and maintained a Strong Buy rating on the shares.
  • RelatedFlat Sales, Margin Pressure, Supply Chain Constraints - Lots To Look Into BRP's Q1 Results.
  • Joseph said the company's Q1 margins held up better than expected despite ongoing cost and supply chain pressures which led to flat revenue.
  • The analyst attributed the reduced price target to supply chain constraints. He lowered his FY24 EPS estimate to C$12.40 from C$12.75.
  • Also Read: RBC Capital Cuts BRP's Price Target By ~13%
  • Price Action: DOO shares are trading lower by 4.24% at C$86.31 on TSX, and DOOO is lower by 4.49% at $68.47 on NASDAQ on the last check Monday.
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