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BRP (DOOO) Received its Third Buy in a Row

After National Bank and TD Securities gave BRP (NASDAQ: DOOO) a Buy rating last month, the company received another Buy, this time from CIBC. Analyst Mark Petrie maintained a Buy rating on BRP today and set a price target of C$114.00. The company’s shares closed last Wednesday at $68.31.

According to TipRanks.com, Petrie is a 5-star analyst with an average return of 16.9% and a 66.4% success rate. Petrie covers the Consumer Goods sector, focusing on stocks such as Canada Goose Holdings, Loblaw Companies, and Dollarama.

BRP has an analyst consensus of Strong Buy, with a price target consensus of $94.05, a 41.5% upside from current levels. In a report issued on March 3, National Bank also maintained a Buy rating on the stock with a C$124.00 price target.

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Based on BRP’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.59 billion and net profit of $128 million. In comparison, last year the company earned revenue of $1.67 billion and had a net profit of $199 million.

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BRP, Inc. is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. Its brands include Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, and Alumacraft. The company was founded on May 1, 2003 and is headquartered in Valcourt, Canada.

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