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Actionable news in PII: POLARIS INDUSTRIES Inc,

Polaris (PII) Stock Price Target Lowered at BMO Capital Markets

NEW YORK (TheStreet) -- BMO Capital Markets lowered its price target on Polaris Industries (PII - Get Report) stock to $82 from $115 on Monday morning. The firm has a "market perform" rating on the stock.

The lower price target comes after Polaris dramatically reduced its 2015 sales and earnings per share outlook, the firm said. The company is now expecting 2015 earnings per share of $6.72 to $6.79 versus a prior range of $7.39 to $7.45. BMO analysts expected earnings per share of $7.37.

Polaris cited a weaker than expected North American off-road vehicle and snowmobile retail environment for the reduction in guidance.

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"The reduction was abrupt and the magnitude rather significant, but, while startling, should not come as a huge surprise to investors. Evidence of a deceleration in the rate of growth in the off-road vehicles market has been mounting all year," BMO said in an analyst note.

The Medina, MN-based company designs, engineers and manufactures off-road vehicles, such as all-terrain vehicles, side-by-side vehicles for...