TD Cowen analyst Oliver Chen maintained a Hold rating on Canada Goose Holdings today and set a price target of $16.00.
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Oliver Chen has given his Hold rating due to a combination of factors surrounding Canada Goose Holdings. The company is currently seen as an attractive investment due to its solid brand reputation and potential for growth, particularly in terms of margin expansion and innovation. However, despite these positive aspects, the stock’s valuation remains relatively low compared to its luxury peers, which suggests a cautious approach.
Additionally, the possibility of Canada Goose going private has been discussed, with potential bids being influenced by strategic and financial buyers’ confidence in future value creation. The company’s balance sheet is robust, with manageable debt levels and consistent free cash flow, making it a candidate for leveraged buyout considerations. Despite these opportunities, the current market conditions and competitive landscape suggest that a Hold rating is appropriate at this time.
In another report released today, Williams Trading also upgraded the stock to a Hold with a C$20.00 price target.