BofA analyst Alexander Perry raised the firm’s price target on Polaris (PII) to $70 from $60 and keeps a Neutral rating on the shares after the company agreed to sell a majority stake in Indian Motorcycles to private equity firm Carolwood. While financial terms of the deal were not disclosed, the firm expects it to be accretive to adjusted EPS by $1.00 given that Polaris’ onroad segment gross margin’s trailed company average by 140 basis points in calendar 2024, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PII:
- Polaris Sells Majority Stake in Indian Motorcycle
- Polaris: Hold Rating Amid Business Sale Gains and Valuation Concerns
- Polaris’s Strategic Shift: Enhancing Profitability Amidst Limited Short-Term Upside
- Polaris’s Strategic Moves and Valuation Concerns Justify Hold Rating Despite Earnings Outperformance
- Polaris Stock (PII) Jumps on Decision to Spin Off Indian Motorcyle Business