Polaris downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Polaris (PII) to Sector Weight from Overweight without a price target Given the firm’s fiscal 2025 outlook, coupled with the stock’s current valuation, it no longer finds valuation supportive at these levels for Polaris given its “incremental caution.” Off-road vehicle end market dynamics screen more challenged versus recreational vehicles and Polaris’ valuation “has become more onerous,” the analyst tells investors in a research note.