BMO Capital lowered the firm’s price target on Polaris to $100 from $130 and keeps a Market Perform rating on the shares. The company’s Q3 results were weaker than expected as the ongoing macroeconomic headwinds weighed on the consumer and retail demand, while greater-than-expected manufacturing headwinds weighed on margins, the analyst tells investors in a research note. The firm is also reducing its FY23 EPS view to $9.60 from $10.35 and its FY24 view to $9.00 from $10.90 to reflect the ongoing macro uncertainty.
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