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Fly News Breaks for February 10, 2020
GOOS
Feb 10, 2020 | 08:30 EDT
DA Davidson analyst John Morris lowered his price target on Canada Goose to $32 and kept his Neutral rating after its Q3 results, noting that while earnings topped expectations, gross margins missed by about 100bps and confirmed his "datamining reads" that the wholesale channel could present a challenge to the company. The analyst adds that the company's inventory remains elevated with 58% growth relative to the 13% sales growth, though the management expects that growth to normalize in Q3 of this year.
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