BRP Inc. (DOOO) is set to release its second-quarter earnings before the market opens on Friday, August 29th. Analysts are anticipating earnings of 33 cents per share and revenue of $1.31 billion, according to Benzinga Pro data. This comes on the heels of BRP’s July 8th agreement to sell its Manitou business to the Marcott family. BRP shares closed at $57.49 on Thursday, showing a slight 0.8% increase.
Recent analyst activity provides a mixed outlook. Citigroup’s James Hardiman (71% accuracy rate) maintained a Neutral rating but raised the price target from $43 to $51 on June 16th. Meanwhile, TD Securities’ Brian Morrison (69% accuracy rate) upgraded the stock from Hold to Buy, increasing the price target from $65 to $70 on May 30th. A similar upgrade came from Desjardins analyst Benoit Poirier (68% accuracy rate) on the same day. However, UBS analyst Robin Farley (81% accuracy rate) maintained a Neutral rating while lowering the price target from $45 to $35 on April 23rd. This divergence in analyst opinions highlights the uncertainty surrounding BRP’s performance.
This makes assessing the potential for BRP stock a nuanced endeavor. While some analysts express bullish sentiment, backed by upgrades and increased price targets, others remain cautious, suggesting further investigation is warranted before making any investment decisions. Investors should consider these varying perspectives alongside BRP’s Q2 results and any accompanying guidance before taking any action.
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