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BRP Price Target Lowered to $90 at CIBC

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CIBC Capital Markets lowered its price target on BRP Inc. (DOO.TO) to $90 from $118.

Analyst Mark Petrie maintained an Outperformer rating on shares of the Canadian recreational vehicle manufacturer.

"We have updated our estimates for BRP in the aftermath of amendments to Section 232 tariffs and the suspension of its F2027 guidance," Petrie said in a note to clients.

"While near-term uncertainty holds us back from pounding the table, we ultimately believe tariff noise will be addressed and BRP's long-term brand value will prevail," the analyst said.

"We do not expect a quick resolution, and there is clear potential for more near-term volatility, but BRP is well capitalized with substantial liquidity as an important buffer."

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