Seaport Research initiated coverage of Polaris Inc. (NYSE:PII) with a Buy rating and $83 price target, citing strong outdoor demand and a better dealer backdrop. Polaris plans to carve out Indian Motorcycle as a standalone business, selling a majority stake to Carolwood LP for roughly $478 million in revenue. The deal is expected to lift annualized adjusted EBITDA by $50 million and add $1.00 to adjusted EPS. Polaris remains confident in Indian Motorcycle’s future under Carolwood’s ownership. Overall, Polaris designs, engineers, manufactures, and markets a wide range of powersports vehicles.

Read more at Yahoo Finance: Seaport Initiates Polaris (PII), Cites Strong Outdoor Demand and Better Dealer Backdrop