Polaris price target raised to $80 from $77 at DA Davidson

DA Davidson raised the firm’s price target on Polaris to $80 from $77 but keeps a Neutral rating on the shares after its Q4 earnings miss. The company had indicated that their guide was influenced by challenged retail and elevated ORV inventory levels, which aligns with the firm’s latest ORV checks, but while Polaris lowered Q1 expectations, there is still meaningful downside to FY24 EPS guidance, the analyst tells investors in a research note.