SunTrust analyst Michael Swartz lowered his price target on Polaris Industries to $100 and kept his Hold rating, saying that although Q3 had some "high points", he expects the stock to trade "range-bound at best" in the near term because of limited visibility around margins and earnings in FY19. The analyst cites that uncertainty related to the impact of trade tariffs and a rising input cost burden, noting that more of these issues will materialize in Q4. Swartz further points to a "softer expected backdrop for North American motorcycles" weighing on Polaris Industries outlook.

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.

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.