BRP (TSE:DOO) Raised to Outperform at CIBC

Key Points

• BRP has been upgraded by CIBC from a "neutral" rating to an "outperform" rating, with a new price target of C$100.00, reflecting an increase from a previous target of C$66.00.
• Other brokerages have also raised their price targets for BRP, with Citigroup increasing theirs to C$60.00 and National Bankshares to C$101.00, showcasing growing analyst confidence in the stock.
• The stock recently traded up by C$4.90, reaching C$91.33, indicating a solid performance as BRP hits its one-year high of C$97.49.

BRP (TSE:DOO - Get Free Report) was upgraded by equities research analysts at CIBC from a "neutral" rating to an "outperform" rating in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a C$100.00 price target on the stock, up from their prior price target of C$66.00. CIBC's target price indicates a potential upside of 9.49% from the company's previous close.

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

BRP Price Performance

BRP stock traded up C$4.90 during mid-day trading on Tuesday, hitting C$91.33. The stock had a trading volume of 562,594 shares, compared to its average volume of 183,995. BRP has a one year low of C$43.88 and a one year high of C$97.49. The company has a current ratio of 1.37, a quick ratio of 0.20 and a debt-to-equity ratio of 573.79. The firm has a market capitalization of C$6.67 billion, a P/E ratio of -182.66, a P/E/G ratio of 2.05 and a beta of 1.05. The firm's 50 day moving average is C$71.93 and its 200 day moving average is C$60.49.

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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