As previously reported, Wedbush analyst James Hardiman upgraded Polaris Industries to Outperform from Neutral and raised his price target on the shares to $117 from $101. The analyst believes there are a number of different paths to make money on Polaris Industries over the course of 2019, including tariff elimination, tariff mitigation, new product innovation, and improving weather/market trends. With a difficult Q1 retail environment behind, he believes that the likelihood of upward earnings revisions significantly outweighs the likelihood of misses and cuts, but more importantly that 2020 could prove to be a strong year for the company.

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.

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.