-- 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."