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Analyst Actions: Credit Suisse Keeps Outperform on Canada Goose, Hikes Target to $64

· 02/05/2021 06:56

11:51 AM EST, 02/05/2021 (MT Newswires) -- Credit Suisse has maintained its Outperform rating on Canada Goose and hiked its one year TP to $64 (up from $52) after the outerwear specialist reported a strong earnings beat, boosted by e-commerce sales and mainland China expansion.

The brokerage is also trimming its Q4 revenue estimate to +19.5% from +28.4% (Street: +18.7%) to reflect 1) zero PPE (the majority of CS reduction), and 2) a lower wholesale mix with sales clearly pulled into Q3 from Q4. Credit Suisse is also cutting its Q4 EPS to -$0.12 from $0.01.

Full year FY21 revenues increases to -10% from -11% previously, and FY21 EPS to $0.65 from $0.79 (due to stepped up reinvestment and no PPE in Q4). Credit Suisse is maintaining FY22 revenues of $1.13 billion (Street: $1.07 billion) and maintaining FY22 EPS of $1.60 (already13% above cons at $1.42).

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 55.73, Change: +0.78, Percent Change: +1.42