The Globe and Mail reports in its Wednesday, Sept. 9, edition that Citi analyst James Hardiman has reaffirmed his "buy" recommendation for BRP. The Globe's David Leeder writes in the Eye On Equities column that Mr. Hardiman gave his share target a $4 boost to $110. Analysts on average target the shares at $102.68. Mr. Hardiman says in a note: "Our most recent ORV dealer checks point to modest July/August retail growth for both Polaris and BRP, on top of what similar growth reported for Q2, a welcome positive amidst otherwise lacklustre demand trends within big-ticket discretionary. The erratic nature of tariffs continues to be an ongoing problem (even if companies are getting smarter at mitigation) while fuel/freight/transport costs will likely be a much bigger conversation during Q3 earnings. Overall, we feel better about the Polaris story than we have in some time, with solid retail momentum bolstered by strong share and an excellent inventory positioning. That said we have a tough time bridging to the Street's 2027 Polaris numbers and valuation still feels a bit rich, whereas we continue to think that BRP has more upside to numbers and a more favorable valuation."
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