Polaris price target raised to $145 from $135 at KeyBanc

KeyBanc analyst Noah Zatzkin raised the firm’s price target on Polaris to $145 from $135 and keeps an Overweight rating on the shares. The firm thinks Tuesday’s price action reflected a higher bar into the print and a nuanced second half of the year EPS setup, which may complicate Polaris’ profitability self-help narrative. That said, KeyBanc sees green shoots in Polaris’ solid retail color, another category-defining product to be announced next week, and channel metrics that still screen the healthiest across the broader leisure space. As such, the firm’s estimates move higher on the beat/wholesale visibility, and it sees valuation grinding higher against improving retail dynamics.