BRP (TSE:DOO) Price Target Raised to C$98.00 at Scotiabank

Key Points

• Scotiabank raised BRP's target price from C$67.00 to C$98.00, suggesting a 7.30% potential upside from the last closing price.
• Other analysts, including National Bankshares and Stifel Canada, have also recently upgraded their ratings and price targets for BRP, indicating a consensus rating of Moderate Buy.
• BRP's stock rose 5.7% during midday trading, reaching C$91.33, with significant trading volume.

BRP (TSE:DOO - Get Free Report) had its target price upped by investment analysts at Scotiabank from C$67.00 to C$98.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price would indicate a potential upside of 7.30% from the company's previous close.

A number of other research analysts also recently weighed in on the stock. Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 29th. National Bankshares raised their price target on shares of BRP from C$83.00 to C$101.00 and gave the company a "sector perform" rating in a report on Tuesday. Desjardins upgraded shares of BRP from a "hold" rating to a "moderate buy" rating in a report on Thursday, May 29th. Citigroup raised their price target on shares of BRP from C$49.00 to C$60.00 in a report on Tuesday, June 3rd. Finally, TD Securities raised their target price on shares of BRP from C$70.00 to C$87.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, BRP has a consensus rating of "Moderate Buy" and a consensus price target of C$91.69.

BRP Stock Up 5.7%

Shares of BRP stock traded up C$4.90 during midday trading on Tuesday, reaching C$91.33. 562,594 shares of the company's stock traded hands, compared to its average volume of 183,995. The company has a market cap of C$6.67 billion, a price-to-earnings ratio of -182.66, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05. The company's 50 day simple moving average is C$71.93 and its 200 day simple moving average is C$60.49. The company has a debt-to-equity ratio of 573.79, a quick ratio of 0.20 and a current ratio of 1.37. BRP has a 52 week low of C$43.88 and a 52 week high of C$97.49.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.

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