BRP Inc. downgraded to Hold from Buy at Stifel

Stifel analyst Martin Landry downgraded BRP Inc. to Hold from Buy with a price target of C$97, down from C$106. The analyst believes the company’s new products will help it continue to win market share. However, discussions with dealers suggests that consumer demand “continues to be tepid resulting in weak traffic and high inventory levels,” the analyst tells investors in a research note. As such, the firm believes an industry recovery may take longer than expected and that consensus estimates may have to come down for fiscal 2026.