Canada Goose shares fall after BofA cuts PT

Canada Goose Holdings

11/11/2024 15:34

** U.S.-listed shares  GOOS.N  of parka maker Canada Goose
fall ~3% to $9.44
    ** Bank of America cuts PT on company's shares to C$13
($9.33) from C$14
    ** GOOS is making progress on brand and product evolution
through its new creative director Haider Ackerman and his
upcoming Snow Goose collection - brokerage
    ** BofA adds that challenging macro environment for luxury
goods will continue to pressure sales, especially in North
America
    ** Recent results hint at acceleration in direct-to-consumer
revenue and stronger momentum in China - brokerage
    ** 2 of 11 brokerages rate the stock "buy" or higher, 5
"hold" and 4 "sell", median PT C$13 - LSEG
    ** Including session's moves, stock down ~16% YTD

 ($1 = 1.3932 Canadian dollars)

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com; X: https://twitter.com/AnanyaMariam))