BUZZ-Citi upgrades Polaris to 'neutral', cites strong Q3 retail sales

Reuters

Oct 02

** Citi upgrades rating of powersport vehicle maker Polaris PII.N to "neutral" from "sell", lifts PT to $60 from $35

** New PT represents a downside of 2.7% from the stock's last close

** Citi sees strong Q3 retail sales for Polaris likely offsetting tariff concerns, though demand trends will be watched as promotions ease

** Notes the upcoming U.S. Supreme Court hearing on November 5 regarding the legality of Trump-era tariffs as a potential upside catalyst for PII shares

** If Mexico adds tariffs on Chinese goods, Polaris could face double the impact, though this risk likely won't arise until 2026, says Citi

** Two of 16 brokerages rate the stock "buy", 13 "hold" and 1 "sell"; their median PT is $56 - data compiled by LSEG

** As of last close, stock had risen 7% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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