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Canada Goose downgraded to Neutral from Outperform at Baird

Baird last night downgraded Canada Goose (GOOS) to Neutral from Outperform with a price target of C$16, down from C$28. The firm says the margin miss during the “key” fiscal Q3 quarter changes the thesis. Baird is “highly disappointed” by the update. Canada Goose posted a sizable earnings miss despite revenue upside, and offered a lack of commentary to help to “calm anxiety over the persistent margin headwinds,” the analyst tells investors in a research note.

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