CIBC Issues Positive Forecast for BRP (TSE:DOO) Stock Price

BRP (TSE:DOO) had its price objective hoisted by equities researchers at CIBC from C$115.00 to C$118.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price indicates a potential upside of 11.44% from the stock’s current price.

Several other equities research analysts have also recently issued reports on DOO. Stifel Nicolaus boosted their price target on BRP from C$106.00 to C$120.00 and gave the company a “buy” rating in a research note on Friday. National Bankshares lifted their price objective on BRP from C$101.00 to C$105.00 in a report on Tuesday, November 18th. Natl Bk Canada raised BRP from a “hold” rating to a “strong-buy” rating in a report on Thursday. TD Securities boosted their price target on BRP from C$87.00 to C$107.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Finally, Loop Capital raised shares of BRP to a “strong-buy” rating in a research report on Thursday, November 13th. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, BRP currently has a consensus rating of “Buy” and an average target price of C$109.08.

BRP Stock Performance

TSE DOO traded up C$0.86 during trading on Friday, reaching C$105.89. The company’s stock had a trading volume of 231,880 shares, compared to its average volume of 187,128. The firm has a 50 day moving average price of C$91.79 and a 200 day moving average price of C$78.71. BRP has a 12 month low of C$43.88 and a 12 month high of C$108.90. The firm has a market capitalization of C$7.74 billion, a price-to-earnings ratio of -211.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.37, a quick ratio of 0.20 and a debt-to-equity ratio of 573.79.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.