Polaris price target lowered to $80 from $85 at BofA

BofA analyst Alexander Perry lowered the firm’s price target on Polaris (PII) to $80 from $85 and keeps a Neutral rating on the shares. After Q3 EPS came in below expectations given softer consumer confidence and retail sales, the firm lowered its Q4 revenue estimate to down 27% year-over-year as it expects Polaris to under-ship retail as it looks to work down dealer inventory. The firm also lowered its calendar 2025 EPS estimate to $3.40 from $6.55 given expectations for continued retail declines through the first half, dealer destocking, and long lead times for Polaris to adjust production schedules.