BRP Inc. price target lowered to C$90 from C$118 at CIBC

CIBC lowered the firm’s price target on BRP Inc. (DOO) to C$90 from C$118 and keeps an Outperformer rating on the shares. The firm updated the company’s model to reflect the Section 232 tariffs and the suspension of its fiscal 2027 guidance. CIBC is not “pounding the table” given the near-term uncertainty, but ultimately believes BRP’s “tariff noise will be addressed” and that the company’s “long-term brand value will prevail.”