0929 ET - BRP's inventory headwinds are easing, opening the doors to growth and expansion. TD Cowen's Brian Morrison says that the leisurecraft manufacturer's inventory getting back on track will provide a path to revenue growth and margin expansion, and ultimately support market-share gains. Lower volumes could help boost margin, coupled with lower promotional intensity and product mix. TD upgrades its recommendation to buy from hold, even though there is still a cautious outlook on near-term consumer demand. "The cadence of recovery remains uncertain, but we have visibility to trough earnings that no longer warrants a trough multiple," Morrison says. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
May 30, 2025 09:29 ET (13:29 GMT)
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