Polaris price target lowered to $80 from $90 at KeyBanc

KeyBanc lowered the firm’s price target on Polaris (PII) to $80 from $90 and keeps an Overweight rating on the shares. The firm notes Polaris posted top- and bottom-line misses, with softer results and the lowered guide landing largely within the realm of our sense of investor expectations. That said, the negative price action reflected management’s expectation of an unimproved retail environment through FY25, pointing investors to flat earnings year-over-year “as a starting point” for FY25, KeyBanc says.