Inside the Market’s roundup of some of today’s key analyst actions
With market conditions “still tough” and a tariff risk that “cannot be ignored,” National Bank Financial analyst Cameron Doerksen is remaining cautious on“As has been the case for much of the year, end market conditions in the powersports industry remain challenging with many of BRP’s publicly traded peers reporting soft calendar Q3 results along with muted near to medium-term outlooks,” he said. “Recent industry news also points to difficult market conditions for powersports OEMs persisting.
While he thinks the “challenging” powersports end market conditions are already priced into BRP’s shares and he continues to expect its current fiscal year to be the trough earnings period, particularly if it is “successful in divesting its money-losing Marine segment,” the analyst emphasized he is cautious on the stock in the near-to-mid-term, pointing to two reasons: “ lower interest rates will be positive for both powersports consumers, and especially for dealers, but the pace of rate...
“Into 2025, supply-side risks will likely remain while contracting activity may pick up given only moderate volumes secured in 2024 despite an increasingly uncertain supply outlook,” the analyst said, raising his long-term uranium price projection to US$100 per pound from US$75 in a report titledWith those turbulent conditions, Mr.
“We continue to see Rook I as a world-class uranium project with a large and high-quality resource, exploration upside, and geopolitically stable location in Canada,” he said. Mr. Ma sees the Vancouver-based company “primed for acquisition growth,” seeing it possessing the highest available liquidity in the sector at US$2.7-billion. He’s also forecasting the generation of more than US$1-billion of cash flow from operations in 2025.
“The volume and pricing outlook remains strong across business lines,” he said. “Management sounded optimistic on Q3/24 cc re: peak season and early 2025. Recent industry pilot wage inflation expected to necessitate catch-up contract with CJT pilots during 2025 in order to remain competitive in attracting and retaining pilots.
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