Polaris price target raised to $130 from $123 at Raymond James

Raymond James analyst Joseph Altobello raised the firm’s price target on Polaris to $130 from $123 and keeps a Strong Buy rating on the shares. The stock does not appear to be pricing in the potential for supply chain improvements over the coming quarters, which should help to bolster wholesale shipments, retail sales and market share, the analyst tells investors in a research note. While retail demand is showing softness, underlying fundamentals still appear healthy, with continued execution likely to lead to both margin and multiple expansion over time, Raymond James says.