BRP (TSE:DOO) Upgraded by Citigroup to "Buy" Rating

Key Points

• Citigroup upgraded BRP's rating from "negative" to "buy," with a new price target of C$102.00, indicating a potential upside of 14.48% from its current price.
• Several other analysts have also upgraded BRP, with CIBC and National Bank increasing their price targets significantly, reflecting a growing positive sentiment around the company's stock.
• BRP shares experienced a 5.3% increase during trading, reaching C$89.10, and analysts generally rate the stock with a consensus of "Moderate Buy."

BRP (TSE:DOO - Get Free Report) was upgraded by analysts at Citigroup from a "negative" rating to a "buy" rating in a report released on Wednesday,BayStreet.CA reports. The firm currently has a C$102.00 price objective on the stock, up from their previous price objective of C$93.00. Citigroup's price target would suggest a potential upside of 14.48% from the company's current price.

Other equities research analysts have also issued research reports about the company. CIBC upgraded BRP from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from C$66.00 to C$100.00 in a research note on Tuesday, September 2nd. National Bankshares lifted their target price on shares of BRP from C$83.00 to C$101.00 and gave the stock a "sector perform" rating in a research note on Tuesday, September 2nd. BMO Capital Markets upped their price target on shares of BRP from C$75.00 to C$105.00 in a research note on Tuesday, September 2nd. Cibc World Mkts upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 1st. Finally, Royal Bank Of Canada upped their target price on BRP from C$68.00 to C$100.00 and gave the company 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 assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, BRP has a consensus rating of "Moderate Buy" and a consensus price target of C$92.38.

BRP Stock Up 5.3%

Shares of BRP stock traded up C$4.48 during trading on Wednesday, reaching C$89.10. The company's stock had a trading volume of 238,057 shares, compared to its average volume of 190,209. BRP has a 1-year low of C$43.88 and a 1-year high of C$94.51. The company has a 50-day simple moving average of C$80.39 and a two-hundred day simple moving average of C$64.84. 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 cap of C$6.52 billion, a price-to-earnings ratio of -178.20, a P/E/G ratio of 2.05 and a beta of 1.16.

About BRP

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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