Raymond James Lowers BRP Price Target As Supply Chain Snags

• Raymond James analyst Joseph Altobello lowered the price target on BRP Inc (NASDAQ:DOOO) (TSX:DOO) to C$135 from C$146 and maintained a Strong Buy rating on the shares.
• Related: Flat Sales, Margin Pressure, Supply Chain Constraints - Lots To Look Into BRP's Q1 Results.
• Joseph said the company's Q1 margins held up better than expected despite ongoing cost and supply chain pressures which led to flat revenue.
• The analyst attributed the reduced price target to supply chain constraints. He lowered his FY24 EPS estimate to C$12.40 from C$12.75.
• Also Read: RBC Capital Cuts BRP's Price Target By ~13%
• Price Action: DOO shares are trading lower by 4.24% at C$86.31 on TSX, and DOOO is lower by 4.49% at $68.47 on NASDAQ on the last check Monday.
• Photo Via Company