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Fly News Breaks for February 10, 2020
GOOS
Feb 10, 2020 | 05:22 EDT
Goldman Sachs analyst Alexandra Walvis downgraded Canada Goose to Neutral from Buy with a price target of $34, down from $44. The company reported Q3 results that were in line with "muted" expectations, but its guidance was cut to account for expected coronavirus disruption to Chinese consumer spending, Walvis tells investors in a research note. While the analyst assumes the potential impact on Canada Goose of coronavirus will be temporary, she sees "incremental causes for concern at the business." She notes slowing sales in the core Canadian market, and says new store openings have been a progressively smaller contributor to sales. As such, Walvis is incrementally more cautious on the underlying growth story for the Canada Goose brand.
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