BRP Inc. price target raised to C$46 from C$40 at RBC Capital » 10:5705/2205/22/20
RBC Capital analyst Steve…
RBC Capital analyst Steve Arthur raised the firm's price target on BRP Inc. to C$46 from C$40 and keeps an Outperform rating on the shares ahead of the company's Q1 earnings report.
BRP Inc. price target raised to C$49 from C$30 at TD Securities » 10:3805/2205/22/20
TD Securities analyst…
TD Securities analyst Brian Morrison raised the firm's price target on BRP Inc. to C$49 from C$30 and keeps a Hold rating on the shares ahead of the company's Q1 earnings release.
|Over a week ago|
National Bank downgrades BRP after 118% rebound off lows » 09:0605/1205/12/20
National Bank analyst…
National Bank analyst Cameron Doerksen downgraded BRP Inc. to Sector Perform from Outperform with a price target of C$40, up from C$38. The analyst continues to have a positive view on BRP's long-term prospects, but suspects "meaningful upside" from the current share levels will be dependent on some evidence of a recovery in consumer confidence and an economic rebound. BRP's financial results for at least the next few quarters are going to be "very weak" given significant disruption due to plant closures, Doerksen tells investors in a research note. As such, the analyst is cautious on BRP following the stock's 118% rebound off the recent lows.
BRP Inc. downgraded to Sector Perform from Outperform at National Bank » 07:2905/1205/12/20
National Bank analyst…
National Bank analyst Cameron Doerksen downgraded BRP Inc. to Sector Perform from Outperform with a C$40 price target.
BRP Inc. announces 90-day warranty extension for all Powersports products » 09:0404/2904/29/20
BRP has decided to make…
BRP has decided to make the current period a little more bearable by announcing a 90-day extension to all of its manufacturer limited warranty, expiring between March 15 and June 30, 2020, across all its powersports product lines. This initiative is an indication of BRP's commitment to deliver an exceptional customer experience, even during these challenging times, and is part of the recent "Together, We Ride" project which is a reminder that tough times require new responses. Since some BRP dealers have temporarily closed or are partially open, we wanted to ensure that our customers can fully benefit from their warranty.
|Over a month ago|
BRP Inc. initiated with an Outperform at Wolfe Research » 09:3204/1704/17/20
Wolfe Research analyst…
Wolfe Research analyst Greg Badishkanian initiated coverage of BRP Inc. with an Outperform rating and $35 price target.
BRP Inc. freezes hiring, lays off employees, reduces salaries » 08:4504/1504/15/20
BRP has announced a…
BRP has announced a series of additional measures in light of the COVID-19 pandemic. After slowing down and temporarily suspending manufacturing at all powersports and marine operations sites around the world, the company is taking additional actions, including cost-containment measures and changes in employee compensation to protect financial flexibility and long-term growth. The company said, " Following the slow down and temporary suspension of all our production lines worldwide and the temporary layoff of a majority of our hourly employees, certain measures have been put in place for office workers until further notice. Depending on the region and local regulations, they include: A global hiring freeze; Temporary layoffs and furlough for some employees; Reduced work schedule in some countries; Selected permanent layoffs. In addition, until the end of the fiscal year: Salary of all Directors and Vice Presidents is reduced by 15%; Salary of most office employees is reduced by 10%; President and CEO, Jose Boisjoli, has decided to forgo his salary; All remunerated members of BRP's Board of Directors have elected to forgo the cash portion of their compensation. We will continue to work with local authorities to access government emergency relief measures and wage subsidy programs, where available, in order to mitigate the impact on our employees. In addition to these efforts, we are taking further steps to maintain our financial flexibility, which includes the reduction of our operating expenses and the postponement of certain capital expenditures, investments and projects in order to protect our long-term growth plan."
BRP Inc. price target lowered to C$40 from C$80 at Canaccord » 09:0403/2303/23/20
Canaccord analyst Derek…
Canaccord analyst Derek Dley lowered his price target on BRP Inc. to C$40 from C$80 after the company suspended its dividend in the wake of headwinds from COVID-19. The analyst also cited its softer than expected Q4 results and the company's election not to provide guidance. Dley maintained his Buy rating on BRP Inc. shares.
BRP Inc. downgraded to Hold from Buy at TD Securities » 07:2303/2303/23/20
TD Securities analyst…
TD Securities analyst Brian Morrison downgraded BRP Inc. to Hold from Buy.
BRP Inc. downgraded to Market Perform from Outperform at BMO Capital » 05:0703/2303/23/20
BMO Capital analyst…
BMO Capital analyst Gerrick Johnson downgraded BRP Inc. to Market Perform from Outperform with a price target of C$26, down from C$72. While the company is "best-in-breed" in key powersports categories, those categories are dependent upon consumer discretionary spending, which will be significantly constricted over the next 6 to 12 months, if not longer, Johnson tells investors in a research note.