Baird lowered the firm’s price target on Polaris (PII) to $72 from $84 and keeps an Outperform rating on the shares. The firm’s dealer survey suggests that mounting debt has curtailed interested buyers and as a result the company is on track to further cut dealer inventory. Baird told investors in October and continue to tell anyone with shorter horizons should remain cautious as consumers run into a debt wall and dealers fight for survival.
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