BRP (TSE:DOO) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• TD Securities has raised its price target for BRP (TSE:DOO) from C$87.00 to C$107.00, indicating a potential upside of 17.16% from the previous close.
• Several other analysts have also upgraded BRP, with ratings ranging from "strong buy" to "outperform" and target prices increasing significantly.
• BRP's stock has recently seen a strong performance, trading up C$4.90 to C$91.33, with an average price target from analysts sitting at C$91.69.

BRP (TSE:DOO - Get Free Report) had its price objective lifted by equities researchers at TD Securities from C$87.00 to C$107.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' target price points to a potential upside of 17.16% from the company's previous close.

A number of other equities analysts have also weighed in on the company. Stifel Canada raised BRP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 29th. CIBC upgraded BRP from a "neutral" rating to an "outperform" rating and increased their target price for the stock from C$66.00 to C$100.00 in a research report on Tuesday. Canaccord Genuity Group upgraded BRP from a "hold" rating to a "buy" rating and increased their target price for the stock from C$80.00 to C$108.00 in a research report on Tuesday. Desjardins upgraded BRP from a "hold" rating to a "moderate buy" rating in a research report on Thursday, May 29th. Finally, Scotiabank increased their target price on BRP from C$67.00 to C$98.00 and gave the stock a "sector perform" rating in a research report on Tuesday. One equities research 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$91.69.

BRP Price Performance

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

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.

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