Citigroup Forecasts Strong Price Appreciation for BRP (TSE:DOO) Stock

BRP (TSE:DOO - Get Free Report) had its price target upped by equities researchers at Citigroup from C$49.00 to C$60.00 in a report issued on Tuesday,BayStreet.CA reports. Citigroup's price objective would suggest a potential downside of 5.84% from the company's previous close.

A number of other research firms also recently weighed in on DOO. TD Securities raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. BMO Capital Markets reduced their price target on BRP from C$100.00 to C$70.00 in a research report on Thursday, March 27th. Canaccord Genuity Group reduced their price target on BRP from C$80.00 to C$60.00 in a research report on Friday, March 21st. Baird R W downgraded BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Raymond James cut their price objective on BRP from C$98.00 to C$65.00 in a report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$69.79.

BRP Stock Up 2.6%

TSE:DOO traded up C$1.61 during trading hours on Tuesday, reaching C$63.72. 232,971 shares of the stock were exchanged, compared to its average volume of 196,097. BRP has a twelve month low of C$43.88 and a twelve month high of C$102.16. The company has a debt-to-equity ratio of 573.79, a current ratio of 1.37 and a quick ratio of 0.20. The firm has a 50 day moving average of C$50.28 and a 200 day moving average of C$60.78. The stock has a market cap of C$4.69 billion, a PE ratio of 24.02, a PEG ratio of 2.05 and a beta of 2.28.

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.