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CIBC World Markets analyst Mark Petrie raised his Canada Goose Holdings Inc. target to $60 from $59, exceeding the $53.09 average, with an “outperformer” rating.
“Canada Goose delivered healthy off-peak results, though a modest Q2 outlook more than offset. Shares were punished, but none of this changes our fundamental view of GOOS, which remains an attractive global growth story fuelled by building brand awareness, product diversification, and favourable channel shift. Seasonality has always been a risk factor for GOOS though this takes on even greater emphasis with the uncertainty of the pandemic. Nonetheless, we believe GOOS is well-positioned to move toward historical margin levels in F202,” said Mr. Petrie.