Canaccord Raises Canada Goose Target

Shares of Canada Goose Holdings were up over 2% higher Friday after Canaccord Genuity raised its price target to CAD34 ($26.8) from CAD33 per share, while reiterating a buy rating following the company’s fiscal Q1 report which was better-than-expected. The broker said Canada Goose was the only brand this season to receive “requests for early deliveries as most fall/winter brands are seeing their deliveries get pushed out closer to holiday.”

In addition, Canaccord Genuity said noted that the company is opening two new stores in Boston and Calgary, which “speaks to the company’s confidence in its store model economics.” The broker also praised the company’s success with its lightweight offering, which represents “a key indicator of the brand’s ability to expand past its core cold weather assortment.”

Leave a Comment