Royal Bank Of Canada Issues Positive Forecast for BRP (TSE:DOO) Stock Price

Key Points

• Royal Bank of Canada raised its price target for BRP Inc. (TSE:DOO) from C$68.00 to C$100.00, maintaining an "outperform" rating, indicating a potential upside of 9.49% from its current price.
• Multiple analysts have upgraded BRP's ratings, with Desjardins shifting from "hold" to "moderate buy," while TD Securities increased their price target to C$107.00 with a "buy" rating.
• BRP shares increased by 5.7%, reaching C$91.33 during midday trading, reflecting significant trading volume compared to its average.

BRP (TSE:DOO - Get Free Report) had its price target boosted by investment analysts at Royal Bank Of Canada from C$68.00 to C$100.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 9.49% from the company's current price.

Several other research analysts have also commented on DOO. Desjardins upgraded BRP from a "hold" rating to a "moderate buy" rating in a research report on Thursday, May 29th. Stifel Nicolaus increased their price objective on BRP from C$88.00 to C$97.00 and gave the company a "buy" rating in a research note on Tuesday. Scotiabank increased their price objective on BRP from C$67.00 to C$98.00 and gave the company a "sector perform" rating in a research note on Tuesday. Citigroup increased their price objective on BRP from C$49.00 to C$60.00 in a research note on Tuesday, June 3rd. Finally, TD Securities increased their price objective on BRP from C$87.00 to C$107.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, BRP currently has an average rating of "Moderate Buy" and an average price target of C$91.69.

BRP Trading Up 5.7%

Shares of DOO traded up C$4.90 during midday trading on Tuesday, hitting C$91.33. 562,594 shares of the stock were exchanged, compared to its average volume of 183,995. BRP has a 52-week low of C$43.88 and a 52-week high of C$97.49. The stock has a fifty day simple moving average of C$71.93 and a 200 day simple moving average of C$60.49. The firm has a market cap of C$6.67 billion, a P/E ratio of -182.66, a P/E/G ratio of 2.05 and a beta of 1.05. 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 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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