BofA analyst Alexander Perry lowered the firm’s price target on Polaris (PII) to $80 from $85 and keeps a Neutral rating on the shares. After Q3 EPS came in below expectations given softer consumer confidence and retail sales, the firm lowered its Q4 revenue estimate to down 27% year-over-year as it expects Polaris to under-ship retail as it looks to work down dealer inventory. The firm also lowered its calendar 2025 EPS estimate to $3.40 from $6.55 given expectations for continued retail declines through the first half, dealer destocking, and long lead times for Polaris to adjust production schedules.
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Read More on PII:
- Polaris price target lowered to $84 from $85 at Baird
- Polaris Q4 implied guide-down larger than Q3 miss, says Citi
- Polaris miss and cut likely not ‘complete surprise to investors,’ says Truist
- Polaris falls -10.0%
- Polaris cuts FY24 adjusted EPS view to down 65% from down 52%-62%
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