Stifel analyst Martin Landry upgraded BRP Inc. (DOOO) to Buy from Hold with a price target of C$68, up from C$45. The company reported “depressed” fiscal Q2 results with sales down 8% year-over-year, the seventh consecutive quarter of declining sales, the analyst tells investors in a research note. However, the firm says this trend could end next quarter as the outlook is improving and Q2 sales could increase year-over-year. The risk of tariffs being a structural issue for BRP has also abated significantly, adds Stifel. It cites an improving outlook for the upgrade.
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