Raymond James Lowers BRP Price Target As Supply Chain Snags

by Shivani Kumaresan, Benzinga Staff Writer

June 6, 2022 1:59 PM | 1 min read |

Raymond James analyst Joseph Altobello lowered the price target on BRP Inc DOOO DOO to C$135 from C$146 and maintained a Strong Buy rating on the shares.
Related: Flat Sales, Margin Pressure, Supply Chain Constraints - Lots To Look Into BRP's Q1 Results.
Joseph said the company's Q1 margins held up better than expected despite ongoing cost and supply chain pressures which led to flat revenue.
The analyst attributed the reduced price target to supply chain constraints. He lowered his FY24 EPS estimate to C$12.40 from C$12.75.
Also Read: RBC Capital Cuts BRP's Price Target By ~13%
Price Action: DOO shares are trading lower by 4.24% at C$86.31 on TSX, and DOOO is lower by 4.49% at $68.47 on NASDAQ on the last check Monday.
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