21:22:40 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



BRP Inc
Symbol DOO
Shares Issued 34,928,191
Close 2023-09-08 C$ 101.47
Market Cap C$ 3,544,163,541
Recent Sedar Documents

Globe says Goldman reaffirms BRP at "sector outperform"

2023-09-08 08:03 ET - In the News

The Globe and Mail reports in its Friday edition that Scotia Capital analyst Jonathan Goldman has reaffirmed his "sector outperform" call for BRP. The Globe's David Leeder writes that Mr. Goldman boosted his share target to $145 from $142. Analysts on average target the shares at $134.61. On Thursday BRP said it now expects revenue growth of between seven and 10 per cent for the current fiscal year, down from an earlier projection of nine to 12 per cent. Mr. Goldman says in a note: "The headline revenue guidance cut is fueling the macro narrative but that totally misses the point. First, the marine segment accounted for approximately 75 per cent of the lowered guide. Not surprising, given weaker demand in the boating industry and a slower production ramp due to component shortages. Second, the power-sports business continues to demonstrate structural earnings growth momentum. Retail sales were up 40 per cent compared to the industry up mid-teens marking 31 out of the last 34 quarters of outperformance. ... Management said that it expects to exceed its F25 target of 30-per-cent SSV share (currently 28 per cent) next year. Management noted that every point of share equates to $190-million of incremental revenues."

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