Stock Analysis & Ideas

International Women’s Day: Canada’s Top Female Analyst Picks This Stock for 2022

Let’s face it, women in all walks of life have a lot more on their plates than their male counterparts, with childcare topping the list. More often than not, the exorbitant price for childcare in many major countries, as well as an overpowering sense of responsibility towards children, plays a role in keeping women from moving ahead in their careers.

This largely contributes to the dearth of women at the top rung of most of the demanding professional sectors, including Finance. The marginal number of women at the C-suite level, means a lack of role models to pave the way for future women attempting success. This seemingly never-ending self-fulfilling prophecy will only be broken by conscious and consistent societal effort.

Gender Parity Far Behind

Even as the world has advanced remarkably, it still has a long way to go in this one regard — gender disparity. It is 2022 and the balance remains a ways off. In a 2021 Global Gender Gap report released by the World Economic Forum, it was stated that there still is roughly 135.6 years to go before men and women reach a balance in various professions. Some of the catalysts for the divergence included politics, education, health, and economic opportunities.

Moreover, a study by Deloitte concluded that in Finance, women accounted for only 24% of total leadership roles in 2021. This proportion is likely to grow to 28% by 2030, which is still below parity.

This is exactly why the women who have strived their way to the top of a male-dominated profession like Finance, must be given a platform to be seen and heard from on a wider scale. This Women’s Day week prompted us to celebrate a few of the top torchbearers of female representation in Finance.

Celebrating the Women in Finance

Earlier this week, we identified the top 10 leading women analysts of Wall Street as ranked on TipRanks. We also had dedicated discussions of the favorite stock picks of the top female analysts —U.S.’s Helane Becker, and the U.K.’s Portia Patel, who have rating success rates of 68% and 64%, respectively.

Today, we discuss one recent stock pick of Canada’s top female analyst Meaghen Annett, a Senior Research Analyst at TD Securities. Annett has achieved 25 successful ratings out of the 34 stocks that she has covered. Moreover, considering that the average returns on her recommended stocks are an impressive 35.8%, it is clear she has an idea of which direction the markets’ wind is blowing.

Annett’s Choice

In February, Annett reiterated a Buy rating on clothing retailer Canada Goose Holdings (NYSE: GOOS), after upgrading the same in January. In her earlier upgrade report, the analyst had said that the stock is becoming “increasingly attractive.”

“Despite near-term headwinds, the balance sheet should enable management to continue to expand the [direct-to-consumer] footprint. Upon a return of international tourism/traffic and growth in global luxury, Canada Goose should be well-positioned to leverage its high-margin, expanded DTC presence,” explained Annett.

The highly rated analyst went on to state that “In our view, the current valuation and potential growth opportunity support increasing our recommendation.”

However, a tepid third-quarter Fiscal 2022 earnings report in February, and trimming of the full Fiscal Year’s outlook led Annett to cut the price target to C$46 ($35.86 as per C$1=$0.78) from C$59.

Nonetheless, the company whose business is largely seasonal because of its dependence on winter clothing, recorded a nearly 75% year-over-year growth in its non-jacket sales. If the company can continue this trend, it might lead to a more consistent revenue generation, which is great for long-term sustainability of growth.

On TipRanks, GOOS has a Moderate Buy consensus rating based on nine Buys, three Holds, and one Sell. The Canada Goose price stock projection leads us to an average price target of $39.04, indicating an upside of 66.62% in relation to Wednesday’s closing price of $23.43.

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