{"id":27993,"date":"2023-10-19T13:13:51","date_gmt":"2023-10-19T13:13:51","guid":{"rendered":"https:\/\/isafespend.com\/investing\/canada-goose-shares-plunge-as-td-cowen-and-wells-fargo-analysts-cut-stock-on-china-u-s-headwinds\/"},"modified":"2023-10-19T13:13:53","modified_gmt":"2023-10-19T13:13:53","slug":"canada-goose-shares-plunge-as-td-cowen-and-wells-fargo-analysts-cut-stock-on-china-u-s-headwinds","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=27993","title":{"rendered":"Canada Goose shares plunge as TD Cowen and Wells Fargo analysts cut stock on China\/U.S. headwinds"},"content":{"rendered":"
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\u00a9 Reuters. Canada Goose (GOOS) shares plunge as Wall Street analysts cut the stock on China\/US headwinds<\/span>
\n<\/i>\n<\/div>\n

Canada Goose (TSX:) (NYSE:) shares tumbled more than 9% Thursday after the stock was downgraded at both TD Cowen and Wells Fargo.<\/p>\n

The clothing brand was cut to Equal-Weight from Overweight at Wells Fargo, with analysts lowering the price target to CAD 20 from CAD 25 per share.<\/p>\n

They told investors in a note that there is a tough macro backdrop developing for the company in the US and China, while the expected unfavorable weather conditions this holiday will also pressure the stock.<\/p>\n

The “worsening China headwinds likely persist,” the analysts wrote, creating a potential third straight weak holiday in the region. Meanwhile, the “unfavorable weather backdrop [is] creating a weak seasonal setup in both NA and Europ.” In addition, the analysts noted that there is weakening brand heat, which they have witnessed via social media mentions.<\/p>\n

TD Cowen analysts cut GOOS to Market Perform from Outperform, lowering the price target to $15 from $22 per share. There are several risks apparent in the medium term, according to TD Cowen.<\/p>\n

“We watch cautious economic news in China & Europe and lack visibility into margin expansion if sales miss expectations. We also monitor non-parka product execution, the opportunity for greater digital engagement, warm fall weather, US credit card data, and weak aspirational customer trends across the sector,” the analysts said.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Canada Goose (GOOS) shares plunge as Wall Street analysts cut the stock on China\/US headwinds Canada Goose (TSX:) (NYSE:) shares tumbled more than 9% Thursday after the stock was downgraded at both TD Cowen and Wells Fargo. The clothing brand was cut to Equal-Weight from Overweight at Wells Fargo, with analysts lowering the<\/p>\n","protected":false},"author":1,"featured_media":27994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-27993","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nCanada Goose shares plunge as TD Cowen and Wells Fargo analysts cut stock on China\/U.S. headwinds | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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