Shares of Polaris (PII) plunged 5.05% in pre-market trading on Wednesday, following a significant price target cut by RBC Capital Markets. The firm lowered its target for Polaris from $54 to $34, representing a 37% reduction, while maintaining a Sector Perform rating on the stock.
The sharp decline in Polaris's stock price comes amid growing concerns about the company's earnings pressure and sales decline. Bank of America Securities analyst Alexander Perry reiterated a Hold rating on PII, citing these challenges. The consensus among analysts, according to FactSet, remains cautious, with an average rating of Hold and a mean price target of $34.55.
Investors appear to be reacting to the mounting uncertainties surrounding Polaris's performance, including potential impacts from tariffs. As the market digests these developments, the stock's pre-market plunge reflects heightened investor apprehension about the company's near-term prospects in the consumer cyclical sector.
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