BRP (TSE:DOO) Upgraded at Canaccord Genuity Group

Key Points

• BRP has been upgraded by Canaccord Genuity Group from a "hold" rating to a "buy" rating, with a new price target of C$108.00, indicating a potential upside of 18.25% from its previous close.
• Other analysts, including Stifel Canada and Desjardins, have also recently upgraded BRP's stock ratings, showing a positive outlook with six analysts giving a Buy rating.
• BRP shares increased by 5.7% during midday trading, reaching C$91.33, and the company has a market cap of C$6.67 billion.

BRP (TSE:DOO - Get Free Report) was upgraded by research analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a C$108.00 price target on the stock, up from their previous price target of C$80.00. Canaccord Genuity Group's price target indicates a potential upside of 18.25% from the company's previous close.

A number of other research analysts also recently weighed in on DOO. Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 29th. Desjardins upgraded shares of BRP from a "hold" rating to a "moderate buy" rating in a research note on Thursday, May 29th. Scotiabank raised their target price on shares of BRP from C$67.00 to C$98.00 and gave the company a "sector perform" rating in a research note on Tuesday. 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. Finally, National Bankshares raised their target price on shares of BRP from C$83.00 to C$101.00 and gave the company a "sector perform" rating in a research note on Tuesday. One research 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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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