On Oct 24, major Wall Street analysts update their ratings for $Polaris (PII.US)$, with price targets ranging from $76 to $84.
Morgan Stanley analyst Megan Alexander maintains with a buy rating, and maintains the target price at $81.
Baird analyst Craig Kennison maintains with a buy rating, and adjusts the target price from $85 to $84.
KeyBanc analyst Noah Zatzkin maintains with a buy rating.
Truist Financial analyst Michael Swartz maintains with a hold rating, and adjusts the target price from $82 to $76.
Furthermore, according to the comprehensive report, the opinions of $Polaris (PII.US)$'s main analysts recently are as follows:
Following a quarter where earnings per share fell short of forecasts due to diminished consumer confidence and retail sales, expectations have been set for a decline in Q4 revenue, anticipating a year-over-year drop of 27%. This forecast is partly based on the projection that Polaris will deliver fewer units than retail demand, as an effort to reduce dealer inventory levels. Further, long-term earnings projections through to 2025 have been adjusted downwards, factoring in an ongoing dip in retail sales for the first half, inventory management efforts by dealers, and the extended time required for Polaris to modify its production plans.
Polaris reported Q3 results that fell short of expectations and reduced its 2024 guidance. Despite the buyside possibly anticipating unfavorable results, the preliminary and directional commentary on 2025 was more conservative than what was generally expected, contributing to the 10% decline in Polaris' share price. It is noted that a significant change in the recent trends is not anticipated in the upcoming months and quarters.
The firm observes that Polaris reported misses on both revenue and earnings, with the softer outcomes and reduced guidance largely aligning with investor expectations. However, the unfavorable market response is tied to management's anticipation of a stagnant retail landscape through FY25, suggesting to investors to consider flat earnings year-over-year for FY25 as an initial outlook.
Polaris experienced an EPS shortfall and has reduced its revenue/EPS guidance while focusing on a 15-20% decrease in dealer inventory by the end of 2024.
Here are the latest investment ratings and price targets for $Polaris (PII.US)$ from 4 analysts:
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