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Melissa Kopka
Constructive dynamics for Polaris Inc. (NYSE:PII) by way of bike and snowmobile gross sales are balanced by “constructing recessionary headwinds” into 2023, in accordance with MKM Companions.
The agency’s analysts famous that demand stays robust for the corporate’s merchandise at current. Nevertheless, persistent provide chain points have prevented the producer from capitalizing on the surge in demand. As stock ranges stay low, the chance to achieve customers which are nonetheless in search of discretionary purchases earlier than the anticipation of elevated stress on customers into 2023.
“We totally credit score the corporate for being on the forefront of innovation in all traces of its companies and for robust relative monetary efficiency over the previous two-plus years,” the analysts wrote on Wednesday. “Nevertheless, an unsure worldwide macro image for 2023, comparatively secure valuation, and query as to how a lot [off-road vehicles] share losses are as a result of true competitor features, go away us considering that the ahead multiples are justified and mirror present dangers.”
As such, the workforce maintained a Impartial ranking and set a $117 value goal for shares. Polaris (PII) inventory rose 2.55% in premarket buying and selling on Wednesday.
Learn extra on earnings outcomes from Canadian powersports competitor BRP.
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