BRP shares are trading higher after Raymond James maintained a Strong Buy rating on the stock but cut its price target from $114 to $108. RBC Capital also reaffirmed its Outperform rating on the stock.
Portfolio Pulse from Benzinga Newsdesk
BRP Inc. (DOOO) shares are trading higher following Raymond James' decision to maintain a Strong Buy rating, despite lowering the price target from $114 to $108. Additionally, RBC Capital has reaffirmed its Outperform rating on the stock.
April 01, 2024 | 5:11 pm
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POSITIVE IMPACT
BRP Inc. (DOOO) shares are positively impacted by Raymond James maintaining a Strong Buy rating, albeit with a reduced price target from $114 to $108, and RBC Capital's continued Outperform rating.
The maintenance of a Strong Buy rating by Raymond James, despite a slight reduction in the price target, along with RBC Capital's reaffirmation of an Outperform rating, signals continued confidence in BRP Inc.'s fundamentals and growth prospects. This analyst endorsement is likely to positively influence investor sentiment and support the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90