TORONTO, June 3, 2026, 17:04 (EDT)
- BRP shares climbed 1.1% to C$85.68 in Toronto, while the main Canadian stock index dropped 1.1%.
- Can-Am rolled out its connected-riding launch this week, while investors continued to weigh BRP’s updated fiscal 2027 outlook.
- Tariffs and sluggish North American retail sales are still weighing. Seasonal demand is also coming in softer.
BRP Inc. shares gained Wednesday, outpacing a drop in the wider Canadian market. Investors kept picking up the Ski-Doo, Sea-Doo and Can-Am maker after the company updated its guidance and announced new products, which helped drive the stock higher.
Toronto shares finished at C$85.68, picking up C$0.95, or 1.12%, at the 4 p.m. EDT close. The stock started the day at C$84.12, reached as high as C$86.43, and saw 291,680 shares change hands—below its typical 327,460 average volume.
S&P/TSX Composite lost 1.1% to 34,801.54, snapping back from a record close the prior day. Tech and mining stocks led the slide as tensions in the Middle East increased. BRP shares pushed higher, but its move seemed isolated, less about the market and more about the company.
BRP’s Can-Am unit on Tuesday rolled out BRP GO! on-road navigation for electric motorcycles and three-wheelers. The update runs on a 10.25-inch display inside the vehicle and links with both Android and iOS devices. “Riders are asking for connected features that don’t discriminate between phone types,” said Marc-Olivier Drouin, Can-Am’s marketing exec at BRP. PR Newswire
This isn’t a balance-sheet event on its own. It comes as BRP gets re-priced by investors after its first-quarter report last week. BRP posted C$2.39 billion in revenue for the quarter ended April 30, up 29.5% from last year. The rise was driven by more shipments of off-road vehicles and personal watercraft.
BRP put out new fiscal 2027 guidance, setting revenue at C$9.1 billion to C$9.4 billion and normalized diluted EPS at C$3.00 to C$3.50 for that year. The company said normalized EBITDA jumped 66.5% in the quarter to C$334.4 million.
Chief Executive Denis Le Vot said the quarter beat expectations thanks to stronger volumes, more discipline on costs and improved promotions. But he cautioned that the “geopolitical and trade environment remains volatile,” noting tariffs are still a key issue. PR Newswire
Analyst views on the company’s guidance have diverged. Scotia Capital’s Jonathan Goldman lifted his target price to C$83 from C$80 and stuck with a “sector perform” call, saying in Cantech Letter that the restored outlook and tariff clarity deserved “a premium.” But even after bumping his target, Goldman still sees the shares as fairly valued following the stock’s recent run. Cantech Letter
Broker calls have been mixed. TD Securities bumped its target up to C$92 but stuck with Hold, and RBC Capital went to C$113, still at Outperform. CIBC set its new target at C$94 and kept its Outperformer tag. Stifel downgraded BRP to Hold and set its target lower at C$85, based on analyst moves tracked by StockAnalysis.com.
Polaris ended up 0.10% at $68.32 and Brunswick gained 0.44% to $82.12 in New York. The moves were small compared to BRP, with both stocks trailing BRP’s jump. Investors seem to have responded mainly to BRP’s updated guidance, not the broader leisure-vehicle sector.
It’s a messy picture. BRP reported a 7% drop in North American retail sales for the quarter, pointing to weaker snowmobile industry volumes and PWC market-share losses, though ORV picked up share. If tariff costs bite more than expected or demand for expensive recreational vehicles slips, the stock’s post-earnings bounce may fade.
BRP’s (DOO) market read is pretty simple at this point: investors want more clarity coming out of a tough period on tariffs, but they’re not throwing money at the stock.
