Polaris price target lowered to $29 from $31 at Morgan Stanley

Morgan Stanley analyst Megan Alexander Clapp lowered the firm’s price target on Polaris (PII) to $29 from $31 and keeps an Equal Weight rating on the shares. Polaris’ Q1 results were “largely in line with Street expectations” and the company’s decision to withdraw fiscal year guidance was “not largely unexpected,” the analyst tells investors. The firm is lowering estimates and its price target “again” as it sees still limited visibility and rising leverage likely constraining the stock, the analyst added.