A mild winter in many parts of the country and a job-crushing pandemic have hurt demand for pricey down coats, and in turn,
Canada Goose Holdings
’ stock. Yet Cowen & Co. argues the worst is over for the outwear company, sending shares soaring more than 10% on Wednesday.
Analyst Oliver Chen lifted his rating on
(ticker: GOOS) to Outperform from Market Perform, and raised his price target to $36 from $31. He believes the company “is well positioned as an outdoor resource amid the pandemic, as a leading brand in stores, and as a global luxury beneficiary as China improves faster.”
He highlights the company’s positive free cash flow, robust margins, and profitable retail channel, despite the headwinds facing the sector this year. Moreover, his recent consumer surveys showed that