$DOO.TO

BRP Price Target Raised By C$6 at Desjardins

Desjardins raised its price target on BRP Inc. (DOO.TO) to C$103 from $97 on Monday.Analyst Benoit Poirier maintained a Buy rating on shares of the Canadian recreational vehicle manufacturer."1Q FY27 beat expectations, and we view the updated guidance and mitigation plan positively," Poirier said in a note to clients."Guidance includes a $500-550 Million tariff headwind, partly offset by a $200 Million mitigation plan," the analyst said."2Q FY27 guidance is below expectations, mainly due to timing impacts from weather and mitigation benefits weighted to 2H," Poirier said."We are encouraged by BRP's balance sheet, premium positioning and supportive trends."(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

CIBC Lifts BRP Price Target to $94.00, Keeps Outperformer Rating

CIBC Capital Markets raised its price target on the shares of BRP (DOO.TO) to $94.00 from $90.00 after the company reported a strong beat for its first-quarter results.Analyst Mark Petrie, who is maintaining an outperformer rating on the company, said consumer demand held better than expected.Management provided updated F2027 guidance including the effects of Section 232 tariffs, and metrics were better than feared, Petrie adds."While there is still substantial uncertainty on the specific path for tariffs, we believe risk skews in BRP's favour." Even though there is still downside to shares if this does not play out, Petrie believes the risk-reward is favourable, and BRP has levers should the downside scenario materialize.Price: $79.01, Change: $-1.92, Percent Change: -2.37%

BRP Downgraded to Hold, Price Target on Shares Cut to $85.00 at Stifel Canada

Stifel Canada downgraded its rating on the shares of BRP (DOO.TO) to hold from buy and cut its price target by $7.00 to $85.00.BRP's shares are facing a binary outcome due to the USMCA negotiations and uncertain tariff rates that could ensue, notes analyst Martin Landy.The upside scenario involves Section 232 tariffs being removed, which could bring consensus EPS estimates back to $8.00/share for FY28. Under such a scenario, shares could possibly reach ~$100, representing a multiple of ~12.5x in-line with historical levels, Landry writes.The downside scenario entails Section 232 tariffs staying at current levels or slightly lower, which could keep consensus EPS depressed around $4.00-5.00 for FY28. Under such a scenario, Landry believes shares of BRP could retest the $70 support levels seen in April."We adjust our forecasts to reflect mitigating measures implemented, which are not as high as expected. This results in a decrease of 30% in our FY27 and FY28 EPS estimates."Price: $78.15, Change: $-2.78, Percent Change: -3.44%

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

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%

BRP up 10.5% in U.S. Pre-Market as Reports Strong Q1 Normalized Earnings, Revenue Beat

BRP (DOO.TO), up 10.5% in U.S. pre-market trading on last look, said on Thursday that first-quarter adjusted earnings surged as revenue jumped 30%. The company also revised its full year guidance.The leisure craft manufacturer said normalized net earnings, stripped of most one-time items, for the quarter ended April 30, surged near 290% to $134.5 million, or $1.83 per diluted normalized share, from $34.6 million, or $0.47 per share. Analysts polled by FactSet had expected $1.15 per share.Revenue climbed 29.5% to $2.4 billion, driven by higher off road vehicles (ORV) and personal watercraft (PWC) shipments, and favourable ORV product mix, due to the introduction of new models. Analysts had expected revenue of $2.1 billion.The company also updated its fiscal 2027 guidance to include incremental tariff costs net of mitigation measures. Total company revenue is now forecast to range between $9.1 billion to $9.4 billion, and normalized diluted earnings per share is expected to be between $3.00 to $3.50.For its fiscal second-quarter, BRP is guiding to normalized diluted earnings per share to be down $1.60 to $1.65 versus the same three-month period last year. The decline results from the net impact of tariffs, the timing of PWC shipments and higher tax incentives last year.BRP will pay a regular quarterly dividend of $0.25 per share on July 14, to shareholders of recordon June 30."We delivered Q1 financial results above expectations, driven by higher volumes, disciplined cost management, strong overall execution and a more favourable promotional environment. We also sustained our solid retail momentum across key ORV segments, as new product introductions in the second half of last year contributed to additional market share gains," said chief executive Denis Le Vot."As tariff policies shifted significantly during the quarter, our teams moved quickly to define mitigation measures to reduce their impact. Looking ahead, we are focused on navigating these headwinds while also protecting our long-term growth prospects. Although the geopolitical and trade environment remains volatile, we are issuing a revised full-year guidance that incorporates both positive trends in our business and net tariff costs," Le Vot added.BRP shares were last seen up US$6.08, to US$64.11 in New York trading.

BRP Revised FY Guidance Sees Revenues Between $9.1 and $9.4B, and Normalized Diluted EPS Between $3.00 and $3.50

BRP Issuing a Revised FY Guidance, Incorporating Incremental Tariff Cost Net of Mitigation Measures

BRP Price Target Lowered to $90 at CIBC

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."

BRP Price Target Lowered to $107 at RBC

RBC Capital Markets lowered its price target on BRP Inc. (DOO.TO, DOOO) to $107 from $124 on Monday.Analyst Sabahat Khan maintained an Outperform rating on shares of the Canadian manufacturer of recreational vehicles."With BRP's shares down ~27% from the day prior to the 232 tariff update (Apr. 14), we believe the risk/reward is attractive at current levels," Khan said in a note to clients."In particular, the incremental tariffs are >$500MM for the remainder of F27 prior to mitigation measures, which represents >41% of the midpoint of the prior F27 Adj. EBITDA guide," the analyst said."While uncertainty over the ultimate duration/ magnitude of tariffs remains, we believe the majority of the downside risks are priced in at the current share price, with upside potential stemming from positive amendments to the updated 232 tariffs."

Stifel Canada Maintains BRP Buy Rating, $116.00 Price Target, Despite FY27 Guidance Suspension

Stifel Canada is maintaining its buy rating and $116.00 price target on the shares of BRP (DOO.TO, DOO) despite the company suspending its annual guidance due to changes to the U.S. tariff environment, as "tariffs have proven to be volatile".In a statement, BRP management calculated the impact of the new tariffs could exceed $500 million annually, without any mitigating measures implemented. This represents about 60% of the company's total FY26 EBITDA, writes analyst Martin Landry.The impact should start in the second quarter as most of the products sold in the fiscal first quarter were exported into the United States under a lower tariffs structure, Landry adds."We are not changing our forecast at this point as tariffs have proven to be volatile. The magnitude of the impact is mind-blowing, but it is likely the worst case scenario."Price: $68.29, Change: $-39.75, Percent Change: -36.79%

TSX up 27 Points at Midday With Info Tech The Best Performer

The Toronto Stock Exchange is up 28 points at midday, with most sectors lower.Info tech and healthcare are the best performers, up 2.6% and 1.1%, respectively, followed by the financials sector, which is 0.7% higher. Canadian banks and life insurers are either at or approaching record highs.Industrials is the worst performer, down 0.6%.In economic news, Canadian manufacturing sales increased 3.6% to $71.2 billion in February, driven largely by higher sales of transportation equipment, machinery, and primary metals, StatsCan reports. Sales rose in six provinces in February, led by Ontario and Quebec, while Alberta posted the largest decline.Wholesale sales (ex-petroleum and grains) rose 2.0% in February to a seasonally adjusted $86. 8billion, StatsCan said.In company news, BRP (DOO.TO) shares have plunged 37% to its lowest level since last July, after it suspended its FY 2027 guidance following the implementation of a revised U.S. tariff regime that will see a 25% tariff on its snowmobiles and most of its offroad vehicles.

BRP Downgraded to Neutral at Seaport Research as New U.S. Tariffs Take Effect

Seaport Research downgraded its rating on the shares of BRP (DOO.TO) to neutral from buy after the company suspended its 2027 guidance following the April 6 implementation of new tariffs on steel, aluminum and copper imports into the United States.The revision leads to a 25% tariff on the total value of imported snowmobiles and the majority of off-road vehicles, replacing the previous 50% tariff on applicable metal content only. BRP estimates the potential incremental tariff cost is over $500 million for the year before any mitigation measures.Seaport cut its FY26 earnings per share (EPS) estimate to $1.50 from $6.50 and 2027 EPS estimate to $2.25 from $8.20.Price: $68.80, Change: $-39.25, Percent Change: -36.32%

BRP Downgraded to Hold at TD

BRP Inc. (DOO.TO) was downgraded to Hold from Buy at TD Securities on Wednesday.Analyst Brian Morrison lowered his price target on shares of the Canadian recreational vehicle manufacturer to $84 from $119."Last night, BRP suspended its F2027 guidance as it interprets amended Section 232 tariffs on steel/aluminum/copper imports will increase its tariff exposure by >$500mm this year, or ~40% of EBITDA," Morrison said in a note to clients."We believe available levers to BRP will not offset a large component of this impact, and that the next data point to gain visibility on this major headwind is within a USMCA renegotiation," the analyst said."We dislike knee-jerk reactions to our recommendation, but pre-release our return was below our required hurdle, the magnitude of the impact is material, and visibility to the amendment changing is limited."

BRP Plunges 23% in U.S. Pre-Market as it Suspends Fiscal 2027 Guidance as New U.S. Tariffs Bite

BRP (DOO.TO), down 23% on last look in U.S. pre-market trading, Wednesday said it is suspending its full-year fiscal 2027 guidance.The suspension follows the U.S. imposing new tariffs on steel, aluminum and copper imports, which would mean a 25% tariff on BRP snowmobiles and most of its off road vehicles (ORV) models, the company said.The new tariffs replace the previous 50% tariff on applicable metal content only. BRP estimates the potential incremental tariff cost to be over $500 million for the rest of the year, before any mitigation measures that could partially offset these impacts."Like many manufacturers, we are operating in a highly volatile and unpredictable tariff environment that continues to create uncertainty across the market," said chief executive Denis Le Vot. "Despite the material burden of these tariff changes, we expect that, with our solid balance sheet, the agility of our teams and the strong start of the year, we will be able to manage our business through this challenge and continue to push BRP forward."BRP shares were last seen down US$17.99, to US$60.46, in New York trading.

BRP Suspended FY27 Guidance Due to Changes to U.S. Tariff Environment

S&P Global Upgrades BRP to BB+ On Improved Business Risk Profile

S&P Global has upgraded its rating on BRP (DOO.TO) to BB+ from BB, on an improved business risk profile and stable outlook.The agency said it removed its negative one-notch financial policy modifier to reflect Bain Capital's lower ownership stake in BRP -- which stood at 11% as of December, with about 20% voting rights.S&P noted BRP enjoys 50%-55% of market share in the snowmobile and personal watercraft segment, with a "solid" second position in the off-road vehicles (ORVs) segment. It also rightsized its inventory ended fiscal 2026 with 17% lower inventory levels in North America compared to a year ago. Fourth-quarter 2026 performance was strong, outperforming the powersports industry across majority of product categories -- ORVs (ATVs and SSVs) and snowmobiles."We believe BRP is well positioned to replenish inventory, and we forecast revenue growth of 6%-7% in fiscal 2027. We also estimate that BRP's top line will benefit by C$400 million-C$500 million in fiscal 2027 due to higher shipments relative to last year. Continued strength in year-round products and steady demand for parts and accessories should further improve top line," S&P said.The agency expects EBITDA margins to improve to around 13.8% in fiscal 2027 mainly due to product-mix benefits (growth of high-margin ORVs) and improved fixed-cost absorption (asset utilization up to 70% from 65%).S&P expects BRP will manage capital "prudently" and forecasts capital expenditure of about C$400 million-C$450 million annually over the next 12-24 months. It estimates free operating cash flow (FOCF) of C$400 million-C$500 million annually."The stable outlook incorporates our view that BRP will maintain net debt to EBITDA of about 2x in fiscal 2027, as revenue and EBITDA improve from the trough in fiscal 2026," S&P said.