DA Davidson keeps a Neutral rating and $80 price target on Polaris, saying the firm’s Q2 ORV checks are showing elevated inventories amid tepid retail demand and stronger than expected shipments in Q1. Polaris has guided to Q1 North America ORV retail sales declining and there is also downside risk to the company’s initial FY24 earnings guidance given the state of their dealer inventories and current retail trends, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>