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National Bank Raises BRP Price Target to $84.00 After Q1 Beat, But Notes Outlook Uncertainty

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National Bank raised its price target on BRP (DOO.TO) shares to $84.00, from $80.00 and maintained its sector perform rating after the company reported first-quarter earnings that beat estimates.

BRP also reinstated fiscal 2027 guidance, after suspending it in April due to the Section 232 tariff changes.

"Although BRP's tariff mitigation measures outlined with the Q1 report are positive, we nevertheless expect to see materially lower y/y earnings from the company in the coming quarters due to the Section 232 tariff changes," writes analyst Cameron Doerksen.

Doerksen also expects outlook uncertainty will remain a share price headwind until there is more clarity around a renegotiated USMCA agreement.

Price: $82.85, Change: $+2.56, Percent Change: +3.19%

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