Shares of Polaris Inc. (PII) plunged 5.05% in pre-market trading on Wednesday, following a significant price target cut by RBC Capital Markets. The sharp decline comes as analysts express caution about the company's near-term prospects.
RBC Capital Markets reduced its price target on Polaris from $54 to $34, representing a substantial 37% decrease. This bearish move has likely sparked investor concerns, contributing to the stock's steep drop. The investment bank maintained its Sector Perform rating on the stock, suggesting a neutral stance despite the lowered expectations.
Adding to the negative sentiment, Bank of America Securities analyst Alexander Perry reiterated a Hold rating on Polaris. Perry cited potential earnings pressure amid sales decline and tariff uncertainty as reasons for the cautious outlook. The overall analyst consensus for Polaris remains at Hold, with a mean price target of $34.55, according to FactSet data. This cautious stance from multiple analysts appears to be weighing heavily on investor confidence, driving the stock's significant pre-market decline.
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