The Globe and Mail reports in its Thursday edition that National Bank analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for BRP. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen whacked his share target back by $7 to $136. Analysts on average target the shares at $135.72. While he expects to see more signs of softening in retail demand when BRP releases its third quarter fiscal 2024 financial results on Nov. 30, Mr. Doerksen thinks those weakening conditions are already reflected in the recreational vehicle manufacturer's share price. Mr. Doerksen says in a note: "In our view, BRP's historically low forward valuation reflects a market expectation that financial results over the next fiscal year will come in well below the current consensus forecasts. If we were to assume that the stock should trade at its historical average EV/EBITDA multiple (7.5 times) in a downturn scenario, the current share price would imply an EBITDA of approximately $1.25-billion in F2025, which would be a 34-per-cent decline from the midpoint of management's F2024 guidance. We believe this is an overly pessimistic scenario, even in the context of a weaker powersports market."