Wedbush Maintains Buy On Polaris Following The Introduction Of Major New Products
Wedbush analyst Rommel Dionisio today issued a note in which he maintained an Outperform rating on Polaris (PII) with a $173 price target, following today’s news that the company unveiled major new products for model year 2015.
Dionisio noted, “Extensive lineup of new 2015 models, particularly for the Motorcycle segment, should drive strong sales trends and account for over half of sales in 2H:14 and early 2015”. He continued, “Given Polaris’s strong track record of top- and bottom-line growth, and potential upside from upcoming new product launches, we believe shares of PII should trade at a ~15% premium to the peer group average. This translates to a 2015E PEG ratio of 1.5x, which generates our price target of $173”.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform analyst Rommel Dionisio has a 20.6% average return and a 59.5% success rate. Dionisio has a 20.9% average return when recommending PII, and is ranked #170 out of 3003 analysts.