RideNow Group price target raised to $4 from $3 at DA Davidson

DA Davidson raised the firm’s price target on RideNow Group (RDNW) to $4 from $3 and keeps a Neutral rating on the shares. The answer to the question of whether powersports have bottomed that was raised last quarter appears to be “a solid yes” as trends improved to an even greater extent in Q3, which includes achieving year over year growth in sales, new and pre-owned units, and gross profit dollars, the analyst tells investors in a research note. Q3 results also marked the second quarter in a row of better EBITDA on a year over year basis, the firm added.