TD Upgrades BRP (TSE:DOO) to Buy

Key Points

• TD upgraded BRP from “hold” to “buy” and raised its price target from C$92 to C$106, implying 12.55% upside from the stock’s reported price.
• Analyst sentiment is broadly positive, with BRP carrying a consensus “Moderate Buy” rating and an average target price of C$99.67.
• BRP shares traded at C$94.18, while the company reported C$1.83 in quarterly EPS and C$2.39 billion in revenue; its stock remains below the C$112.26 one-year high.

BRP (TSE:DOO - Get Free Report) was upgraded by research analysts at TD from a "hold" rating to a "buy" rating in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a C$106.00 price objective on the stock, up from their prior price objective of C$92.00. TD's target price indicates a potential upside of 12.55% from the company's current price.

DOO has been the subject of a number of other research reports. Scotiabank raised their price objective on BRP from C$80.00 to C$83.00 and gave the stock a "sector perform" rating in a research report on Friday, May 29th. Stifel Nicolaus lowered BRP from a "buy" rating to a "hold" rating and cut their target price for the company from C$92.00 to C$85.00 in a research note on Friday, May 29th. Citigroup reduced their target price on BRP from C$75.00 to C$74.00 and set a "buy" rating for the company in a research report on Friday, May 29th. National Bank Financial lifted their price target on shares of BRP from C$80.00 to C$84.00 and gave the stock a "sector perform" rating in a research note on Friday, May 29th. Finally, Raymond James Financial lowered shares of BRP from a "strong-buy" rating to a "market perform" rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$99.67.

BRP Stock Performance

Shares of DOO traded down C$1.13 during trading hours on Wednesday, reaching C$94.18. 125,698 shares of the company traded hands, compared to its average volume of 290,906. The stock's fifty day moving average is C$86.23 and its 200 day moving average is C$89.19. The stock has a market cap of C$6.94 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. The company has a debt-to-equity ratio of 419.45, a quick ratio of 0.20 and a current ratio of 1.30. BRP has a 1-year low of C$67.11 and a 1-year high of C$112.26.

BRP (TSE:DOO - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported C$1.83 earnings per share for the quarter. BRP had a return on equity of 46.01% and a net margin of 3.01%.The business had revenue of C$2.39 billion for the quarter. Equities research analysts anticipate that BRP will post 6.890971 earnings per share for the current fiscal year.

About BRP

BRP Inc is a global leader in the world of powersports products and powertrains, built on over 80 years of ingenuity, innovation, and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on- and off-road vehicles, Quintrex boats as well as Rotax engines for karts, recreational aircraft and jet boats, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds.

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