BRP (TSE:DOO) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has raised its target price for BRP's stock from C$108.00 to C$116.00, indicating a potential upside of 28.30% from its current price.
• Multiple analysts have issued positive ratings for BRP, with most upgrading their price targets, leading to a consensus rating of "Moderate Buy" and an average target price of C$93.69.
• BRP's stock has traded down to C$90.41, with a market capitalization of C$6.61 billion and a 12-month trading range between C$43.88 and C$95.15.

BRP (TSE:DOO - Get Free Report) had its target price lifted by analysts at Canaccord Genuity Group from C$108.00 to C$116.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 28.30% from the company's current price.

Several other analysts also recently weighed in on DOO. TD Securities lifted their price target on shares of BRP from C$87.00 to C$107.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Stifel Nicolaus boosted their price objective on shares of BRP from C$97.00 to C$106.00 and gave the company a "buy" rating in a report on Friday. Scotiabank upped their price target on shares of BRP from C$67.00 to C$98.00 and gave the company a "sector perform" rating in a report on Tuesday, September 2nd. CIBC upgraded shares of BRP from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from C$66.00 to C$100.00 in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada upped their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$93.69.

BRP Price Performance

DOO stock traded down C$1.96 during mid-day trading on Friday, hitting C$90.41. The company had a trading volume of 162,484 shares, compared to its average volume of 192,478. The company has a 50-day moving average price of C$83.60 and a 200 day moving average price of C$66.61. 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 company has a market capitalization of C$6.61 billion, a price-to-earnings ratio of -180.82, a P/E/G ratio of 2.05 and a beta of 1.12. BRP has a 12-month low of C$43.88 and a 12-month high of C$95.15.

BRP Company Profile

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.

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