BRP Inc. (DOO:CA) (DOOO)
National Bank of Canada increased its 12 month target price on BRP Inc. to C$105 from C$101, reflecting growing confidence that the company will deliver stronger-than-expected third-quarter results, supported by resilient demand in powersports, improved inventory conditions, and stabilization in the consumer discretionary environment.
Analysts noted that BRP’s product mix, in particularly its side-by-sides, three-wheel vehicles, and marine products continue to outperform expectations, even as broader discretionary spending faces macroeconomic headwinds. Cost controls, disciplined production planning, and easing supply-chain bottlenecks are also expected to support margin expansion.
National Bank added that BRP’s strong brand equity, expanding dealer network, and increasing penetration in international markets position the company to outperform its peers in the recreational vehicles segment heading into 2025.
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