BRP Inc. price target raised to $77 from $76 at Baird

Baird raised the firm’s price target on BRP Inc. to $77 from $76 and keeps an Outperform rating on the shares. The firm noted they met expectations but cut guidance to reflect added promotional spending and deeper inventory cuts. Baird noted the guidance reset and lingering concern that it may not be the last cut pressured the stock and although they see good value, they need to be convinced “the last cut” is in place.