Polaris Inc. (PII) shares plunged 8.51% in intraday trading on Monday, following a downward revision in its price target by analysts.
UBS reduced its price target on the recreational vehicle maker to $48 from $67, maintaining a Neutral rating. The move comes as analysts polled by FactSet have an average rating of "Hold" and a mean price target of $56 for Polaris stock.
The sharp decline in Polaris' share price reflects mounting concerns over the company's growth prospects and profitability, as analysts reassess their valuations and expectations for the company.
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