BRP Inc. downgraded to Neutral at Seaport on new 232 tariffs

As previously reported, Seaport Research downgraded BRP Inc. (DOO) to Neutral from Buy with no price target after the company announced it is suspending its FY27 guidance following the recent amendment of Section 232 tariffs on steel, aluminum and copper imports into the U.S. BRP estimates the potential incremental tariff cost related to this amendment to be over $500M for the year before any mitigation measures, notes the analyst, who is lowering the firm’s FY26 EPS estimate to $1.50 from $6.50 and its 2027 EPS estimate to $2.25 from $8.20.