1454 ET - Polaris is expected to lose more power sports customers as debt overwhelms buyers, Baird analysts said in a research note. Dealers told Baird in a survey that there are "simply no customers" for products in the power sports category such as all terrain vehicles, snowmobiles and motorcycles. Consumers have hit a wall when it comes to debt and aren't keeping up with monthly expenses. While there is some strength among affluent buyers that is offset by widespread debt-to-income issues, among other problems. The result is weaker demand, which is likely to prompt Polaris to further cut back its inventory to dealers, says Baird, which cut its price target on the shares to $72 from $84. The stock is little changed on the day at $57.51, is down 39% this year. (katherine.hamilton@wsj.com )
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December 30, 2024 14:54 ET (19:54 GMT)
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