DA Davidson analyst John Morris downgraded Columbia Sportswear to Neutral from Buy with a price target of $96, down from $129. The analyst cites the takeaways from his discussions with the company's management team on November 15th, which call for maintained Q4 revenue growth outllok of low-to-mid single digits due to the "challenging compares" as well as its ongoing "investment initiatives" into product innovation. Morris adds that his assumed and downgraded Neutral rating reflects the top compares against a strong Holiday quarter last year as well as the acknowledgement by the management that its carryover inventory is "slightly higher than planned".