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Fly News Breaks for September 21, 2015
HMC, YAMCY, PII
Sep 21, 2015 | 08:29 EDT
Wunderlich analyst Rommel Dionisio said his proprietary channel checks of over 70 U.S. off-road vehicle dealers came back "somewhat mixed" for Polaris Industries (PII). New product launches this season from competitors Yamaha (YAMCY) and Honda (HMC) could challenge the company's market share in the lucrative side-by-side market, Dionisio tells investors in a research note. However, feedback for Polaris's new premium sport SxS model is strong, the analyst notes. He keeps a Buy rating on Polaris with a $159 price target.
News For PII;YAMCY;HMC From the Last 2 Days
HMC
Apr 25, 2024 | 10:34 EDT
PII
Apr 24, 2024 | 09:48 EDT
PII
Apr 24, 2024 | 09:05 EDT
RBC Capital lowered the firm's price target on Polaris to $97 from $103 and keeps a Sector Perform rating on the shares. The company's Q1 results were "in-line to ahead" of estimates and the management affirmed its guidance, but while Polaris believes the company's inventory is largely healthy relative to the overall industry, dealers view their general inventory as being too high given the weaker retailing environment and higher/rising floorplan financing costs, the analyst tells investors in a research note.
PII
Apr 24, 2024 | 06:38 EDT
Baird lowered the firm's price target on Polaris to $100 from $110 and keeps an Outperform rating on the shares. The firm said they beat expectations and reiterated guidance, but shares fell 2% on persistent inventory concerns. Baird believes the stock seems washed out or close to it, but investors need to be convinced "the last cut" to guidance is in place before buying into the 2026 plan.
PII
Apr 24, 2024 | 06:14 EDT
Citi analyst James Hardiman lowered the firm's price target on Polaris to $96 from $100 and keeps a Neutral rating on the shares. The Q1 upside appears to be a function of expense timing if the reiterated guidance is any indication, the analyst tells investors in a research note. Citi continues to see risk to the remainder of the year, but sees limited downside to shares from here, with its base case implying modest upside over the next twelve months. It believes elevated promotions continue to weigh on the leisure industry.
