BRP Inc. upgraded to Neutral from Sell at Citi

Citi upgraded BRP Inc. (DOOO) to Neutral from Sell with a price target of $37, up from $27. The tariff landscape remains fluid, but the company’s supply chain setup appears to have dodged the worst-case scenario as tariffs on Mexico and Canada appear to be on the backburner, postponing – if not eliminating – a potentially existential threat, the analyst tells investors in a research note. BRP also competes with companies that import a significant amount of product into the U.S. from China/Japan and whose supply chain setup was disproportionately punished by U.S. tariffs, Citi adds.