BRP (TSE:DOO) Upgraded at Cibc World Mkts

Key Points

• BRP has been upgraded from a "hold" to a "strong-buy" rating by CIBC World Markets, reflecting increased investor confidence.
• Multiple analysts have raised their price targets for BRP, with the average consensus target now at C$91.69.
• BRP's stock rose by 6.3%, closing at C$91.89, as investor sentiment strengthens following the upgrades.

BRP (TSE:DOO - Get Free Report) was upgraded by equities research analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

DOO has been the topic of a number of other reports. Canaccord Genuity Group raised shares of BRP from a "hold" rating to a "buy" rating and upped their target price for the company from C$80.00 to C$108.00 in a report on Tuesday, September 2nd. Royal Bank Of Canada increased their price target on shares of BRP from C$68.00 to C$100.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Scotiabank increased their price target on shares of BRP from C$67.00 to C$98.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 2nd. Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus lifted their price target on shares of BRP from C$88.00 to C$97.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, BRP presently has an average rating of "Moderate Buy" and an average target price of C$91.69.

BRP Stock Performance

Shares of DOO stock traded up C$0.29 on Monday, reaching C$90.66. The stock had a trading volume of 256,465 shares, compared to its average volume of 186,651. The company has a quick ratio of 0.20, a current ratio of 1.37 and a debt-to-equity ratio of 573.79. The firm's 50-day moving average is C$73.92 and its two-hundred day moving average is C$61.30. The firm has a market capitalization of C$6.62 billion, a price-to-earnings ratio of -181.32, a P/E/G ratio of 2.05 and a beta of 1.16. BRP has a 12 month low of C$43.88 and a 12 month high of C$92.62.

BRP Company Profile

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.