JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Friday, Desjardins analyst Benoit Poirier upgraded BRP Inc . (TSX:DOO:CN) (NASDAQ:DOOO) stock rating from Hold to Buy and slightly increased the price target to Cdn$78.00 from Cdn$77.00. Poirier praised the company’s performance in the first quarter, noting a 21% year-over-year decrease in inventory network, stable retail performance, robust free cash flow (FCF) generation, and a lower-than-expected impact from tariffs.
Poirier’s comments highlighted the company’s effective management during the quarter and optimism for the second quarter and second half of the fiscal year 2026. The anticipated end of inventory rightsizing and expected double-digit top-line growth in the latter half of the year, driven by new products, were key factors in the upgrade.
The analyst expressed increased confidence that the company has moved past its challenges, citing strong free cash flow generation and an attractive valuation. These elements contributed to the decision to upgrade the stock rating to Buy.
BRP Inc. ’s financial health and strategic direction appear to be on solid footing according to Desjardins, with the analyst’s remarks indicating a positive outlook for the company’s future performance.
Investors and market watchers will likely monitor BRP Inc.’s progress closely as it aims to achieve the growth and performance targets outlined by Desjardins, particularly regarding the impact of new product offerings on the company’s top-line growth.
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