BRP Inc. initiated with an Outperform at Scotiabank

Scotiabank analyst Jonathan Goldman initiated coverage of BRP Inc. with an Outperform rating and C$143 price target. The original equipment manufacturer of powersports products was a COVID-19 pandemic winner and while those benefits have "mostly faded," concerns about the company overearning have "lingered," said the firm. Worries about overearning and rising rates prompting a slowdown in consumer spending are both "valid" concerns, but are "overly discounted in the shares," the analyst tells investors.