1138 ET - End markets are too soft for BRP to see a good runway to growth. CIBC's Mark Petrie says in a report that the leisurecraft maker remains hurt by excess industry inventory and cautious consumer demand that skews away from its strengths. While management is trying to turn things around with new products and innovation, "we ultimately see a broader demand recovery as the key to more normalized margins and a healthier valuation, and believe this will take time." Meanwhile, tariffs remain a headwind, but these are easing, Petrie says. Still, looking at the broader market, peer inventory levels remain elevated, and non-current units continue to outperform because of the elevated discount programs in place. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
May 30, 2025 11:38 ET (15:38 GMT)
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