Market News

GOOS, VFC Slip after Downgrade from Baird

Shares of Canada Goose (NYSE:GOOS) and VF Corp. (NYSE:VFC) fell in early trading, which can be attributed to an analyst downgrade. Jonathan Komp of Baird changed his rating from Buy to Hold while assigning price targets of $21.72 and $34 per share, respectively.

When it comes to VF Corp, Komp is worried about earnings revisions and elevated inventory levels. On the other hand, for Canada Goose, Komp believes that investors are overestimating the potential benefits of China’s reopening. He expects that it’ll take nine months for the company to see any positive impact due to the seasonal nature of the business.

Overall, Wall Street analysts have consensus price targets of $22.23 and $30.47 per share on GOOS and VFC stocks, respectively. This implies upside potential of over 4.27% and 1.16%, as indicated by the graphic above.

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