Polaris price target lowered to $76 from $79 at Roth MKM

Roth MKM lowered the firm’s price target on Polaris (PII) to $76 from $79 and keeps a Neutral rating on the shares after its Q3 earnings miss. The quarter’s increased retail headwinds, elevated promo activity, and lost sales leverage led to a big Q3 miss and slashing of guidance, the analyst tells investors in a research note. On the conference call, the company also pointed to a still soft retail environment across the board and suggested that a flat scenario at retail is “certainly not a given”, the firm added.