Polaris price target lowered to $84 from $87 at DA Davidson

DA Davidson analyst Brandon Rolle lowered the firm’s price target on Polaris (PII) to $84 from $87 and keeps a Buy rating on the shares. The company’s Q3 results missed expectations and the management provided a below-consensus FY25 outlook, with flat EPS growth despite plans to lower total dealer inventories by 15%-20% in FY24, the analyst tells investors in a research note. The firm adds however that despite the disappointing FY25 guidance, any improvement in underlying fundamentals would provide upside to the guidance.