July 21, 2017 / 3:22 PM / 2 months ago

BUZZ-Polaris Industries dips after RBC cuts to "underperform"

** Polaris Industries down about 2 pct early Fri as RBC cuts to underperform from sector perform

** Broker holds PT at $80, a 15 pct discount to current level

** Lead analyst Joseph Spak cites weak demand for recreational vehicles, increasing competition, brand impact due to recalls and margin pressures from growing promotional deals

** On Jul 19 Polaris recalled ~25,600 Sportsman 570 ATVs due to fuel leak/fire hazards

** On Thurs, PII reported adj Q2 EPS of $1.16, beating Thomson Reuters I/B/E/S estimate of $1.08 by 7.5 pct

** Of 18 analysts covering PII, 3 recommend “buy” or stronger, with 13 “holds” and 2 “sells”; median PT $92

** Thomson Reuters StarMine gives Spak 2 of 5 possible stars for past PII recommendations

** Polaris shares have gained about 15 pct YTD, outperforming the S&P 500 (up 10 pct) (Stephen Culp)

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