Canaccord Genuity Believes BRP Inc. SV (TSX: DOO) Won’t Stop Here

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, BRP Inc. SV (TSX: DOO). Analyst Derek Dley from Canaccord Genuity reiterated a Buy rating, with a C$35 price target today.

Dley has an average return of 37.4% when recommending BRP Inc. SV.

According to TipRanks.com, Dley is ranked #249 out of 4575 analysts.

BRP Inc. SV has an analyst consensus of Strong Buy, with a price target consensus of C$35.

Based on BRP Inc. SV’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of C$1.31 billion and quarterly net profit of C$137 million. In comparison, last year the company earned revenue of C$930 million and had a net profit of C$111 million.

BRP, Inc. is a holding company which engages in designing, developing, manufacturing, distributing and marketing of powersports vehicles and propulsion systems. It offers snowmobiles, watercrafts, off-road vehicles, and outboard engines. It distributes under the following brands: Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, and Can-Am Spyder. The company was founded on May 1, 2003 and is headquartered in Valcourt, Canada.

The company’s shares closed last Friday at $31.63, close to its 52-week high of $33.57.