RBC Capital Markets cuts target price on Arctic Cat
Arctic Cat Inc. (Nasdaq:ACAT) shares are declining after investment bank RBC Capital Markets lowered its price target on the snowmobile maker to $6 from $8. RBC maintained its “underperform” rating on the stock. In a research note to investors published Wednesday morning, RBC noted that Arctic Cat lowered its fourth-quarter guidance and a major retail customer reduced its order amount.
In Wednesday morning trading, ACAT shares are down 9.36%, or $0.69 at $6.68. For detailed price information and recent news stories about Arctic Cat, click ACAT.
