Polaris downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Gerrick Johnson downgraded Polaris to Market Perform from Outperform with a price target of $110, down from $120. The analyst says that while a slowdown in retail is "generally known and discounted" in the stock price, he reduced estimates owing to concerns about loss of market share and an increase in the number of recalls. And with Polaris management "seemingly content with the composition of its product portfolio it appears corporate action catalysts have now also been exhausted," Johnson tells investors in a research note. The analyst has received deteriorating commentary from dealers in his recent checks, which he says compound concerns about the loss of market share in several of Polaris’s segments.