Polaris price target lowered to $96 from $100 at Citi

Citi analyst James Hardiman lowered the firm’s price target on Polaris to $96 from $100 and keeps a Neutral rating on the shares. The Q1 upside appears to be a function of expense timing if the reiterated guidance is any indication, the analyst tells investors in a research note. Citi continues to see risk to the remainder of the year, but sees limited downside to shares from here, with its base case implying modest upside over the next twelve months. It believes elevated promotions continue to weigh on the leisure industry.