Citigroup Issues Positive Forecast for BRP (TSE:DOO) Stock Price

BRP (TSE:DOO) had its target price increased by equities research analysts at Citigroup from C$122.00 to C$128.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 24.39% from the stock’s current price.

Several other equities analysts also recently commented on the company. National Bankshares upgraded BRP from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$105.00 to C$125.00 in a research report on Friday, December 5th. Desjardins lifted their target price on BRP from C$117.00 to C$130.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. BMO Capital Markets raised their target price on shares of BRP from C$105.00 to C$115.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Natl Bk Canada upgraded BRP from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. Finally, Stifel Nicolaus upped their target price on BRP from C$106.00 to C$120.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, BRP has an average rating of “Buy” and an average price target of C$111.33.

BRP Stock Performance

DOO traded up C$1.90 during trading on Tuesday, hitting C$102.90. The company’s stock had a trading volume of 84,444 shares, compared to its average volume of 172,113. BRP has a one year low of C$43.88 and a one year high of C$108.90. The business’s 50 day simple moving average is C$97.13 and its 200-day simple moving average is C$86.69. The company has a quick ratio of 0.20, a current ratio of 1.37 and a debt-to-equity ratio of 573.79. The firm has a market cap of C$7.55 billion, a PE ratio of 311.82, a P/E/G ratio of 2.05 and a beta of 1.25.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).