BRP Inc. price target lowered to $27 from $29 at Citi

Citi analyst James Hardiman lowered the firm’s price target on BRP Inc. (DOOO) to $27 from $29 and keeps a Sell rating on the shares. Despite a Q4 beat that was driven largely by a tax benefit, BRP is dealing with a deteriorating and “increasingly-promotional” end market at the same time “more significant and potentially devastating tariff headwinds linger as a threat,” the analyst tells investors in a research note. The firm believes the weakening of fundamentals in conjunction with the existing tariffs is enough to weigh on the stock’s valuation going forward.