BRP's Potential Tariff Relief Could Bode Well for Outlook
Dow Jones
Aug 20
1246 ET - TD Cowen says BRP's tariff headwinds may be "less onerous" than anticipated, as new product updates could classify several vehicles under utility HTS codes "potentially not subject to S232 tariffs," which "could represent $200mm in relief." Coupled with resiliency of demand, analyst Brian Morrison says BRP could see upward revisions to its estimates. "Ongoing SxS [side-by-side] momentum/share gains," with strength in year-round products like the Can-Am Defender are expected to drive 2Q revenue growth of 6% year-over-year, he says. Morrison raises his rating to buy from hold, and lifts the target price to C$106 from C$92.
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