Analyst Oliver Chen from TD Cowen maintained a Hold rating on Canada Goose Holdings and keeping the price target at $12.00.
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Oliver Chen has given his Hold rating due to a combination of factors including the recent sequential revenue growth in the Americas and China, which shows promise for upcoming quarters. However, the increase in SG&A expenses and the lack of guidance have likely contributed to the stock’s lower performance. Additionally, the company’s valuation is lower compared to its luxury peers, which indicates a cautious outlook.
Chen also notes the potential for Canada Goose to strengthen its brand under the new Creative Director, Haider Ackermann, with a focus on marketing and lifestyle product flows. While the brand is becoming more relevant and bold, it faces challenges in balancing new product introductions with its core offerings. The company’s future success will depend on its ability to enhance cultural relevance and emotional connectivity with consumers while maintaining product quality and performance.
In another report released today, Barclays also maintained a Hold rating on the stock with a $13.00 price target.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GOOS in relation to earlier this year.