RBC Capital lowered the firm’s price target on Polaris (PII) to $73 from $82 and keeps a Sector Perform rating on the shares. The company reported Q3 results that were below expectations and lowered its 2024 guidance, and while the buyside likely expected a negative print, the directional/early commentary on 2025 was more cautious than consensus estimates, driving the 10% drop in Polaris share price, the analyst tells investors in a research note. RBC adds that it does not expect a material improvement in recent trends over the coming months and quarters.
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