Williams Trading analyst Sam Poser last night downgraded Canada Goose (GOOS) to Sell from Hold with a C$10 price target The company’s fiscal Q4 results handily beat estimates across the board but the post-earnings stock price surge was likely driven by short covering, the analyst tells investors in a research note. The firm believes the Q4 results are more about weather than about fundamental improvement in the brand or company. Williams says while the brand’s product offerings are beginning to be diversified, Canada Goose “is not a luxury brand.” Luxury brands sales are driven by compelling product, and weather does not generally materially impact sales, it contends.
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