These Analysts Increase Their Forecasts On BRP After Q2 Results

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BRP Inc. (NASDAQ:DOOO) reported better-than-expected second-quarter financial results on Friday.

BRP reported quarterly earnings of 67 cents per share which beat the analyst consensus estimate of 33 cents per share. The company reported quarterly sales of $1.374 billion which beat the analyst consensus estimate of $1.310 billion.

“We are pleased with our second-quarter results which, in the macroeconomic context, were better than expected. We are coming off a successful dealer event, during which we unveiled a significant number of industry-leading products and witnessed a strong upswing in dealer sentiment. The timing of these new introductions could not be better given our healthier inventory levels,” said José Boisjoli, President and CEO of BRP.

BRP shares rose 5.2% to trade at $66.27 on Tuesday.

These analysts made changes to their price targets on BRP following earnings announcement.

• CIBC analyst Mark Petrie upgraded BRP from Neutral to Outperformer and raised the price target from C$66 to C$100.
• Scotiabank analyst Jonathan Goldman maintained the stock with a Sector Perform and raised the price target from C$67 to C$98.

Considering buying DOOO stock? Here’s what analysts think:

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