Baird analyst Craig Kennison lowered the firm’s price target on Polaris to $125 from $140 and keeps an Outperform rating on the shares. The firm said its checks with dealers showed many are concerned that cumulative inflation and rising interest rates have put new powersports purchases out of reach for less affluent consumers. Momentum behind the XPEDEITION and Ranger XD should boost demand in the coming months, but macro signals are troublesome.
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