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Investing.com - BMO Capital raised its price target on BRP Inc. (TSX:DOO) (NASDAQ:DOOO) to C$105.00 from C$75.00 on Tuesday, while maintaining an Outperform rating on the stock.
The price target increase follows BRP’s normalized fiscal second-quarter 2026 results, which exceeded consensus expectations. BMO Capital noted that the company also introduced fiscal 2026 guidance ahead of Street estimates, which was unexpected.
BMO Capital cited several positive factors supporting its bullish outlook, including tailwinds from new product launches and continued progress in right-sizing dealer channel inventory levels both for BRP and the broader industry.
The firm expressed confidence that BRP is positioned to return to market share gains as the industry environment normalizes. This favorable setup extends into the second half of fiscal 2026 and beyond into fiscal 2027.
BMO Capital analyst Tristan Thomas-Martin raised estimates for the recreational vehicle manufacturer alongside the significant price target increase, reflecting growing optimism about the company’s near and medium-term prospects.
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