BRP Inc. price target lowered to $74 from $94 at Citi

Citi lowered the firm’s price target on BRP Inc. to $74 from $94 and keeps a Buy rating on the shares. The firm says BRP’s outlook is “far and away the most conservative” of any of the leisure companies it follows. This is somewhat surprising given what appears to be just two months of weak retail data heading into the offseason, the analyst tells investors in a research note. While investors seem to generally favor companies expressing a conservative outlook in the current environment and doing what they can to de-risk 2024, “the magnitude of the cut is somewhat alarming,” adds Citi.