DA Davidson lowered the firm’s price target on Polaris to $77 from $90 and keeps a Neutral rating on the shares. The firm’s latest Off-Road Vehicles checks revealed decelerating retail trends and elevated dealer inventories entering 2024, the analyst tells investors in a research note. Based on the company’s current dealer inventory situation, Polaris could over-ship retail by about 17% in 2023, the firm added.
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