Aritzia downgraded to Market Perform from Outperform at BMO Capital

BMO Capital downgraded Aritzia to Market Perform from Outperform with a price target of C$50, down from C$60. The company’s unexpected shift to a period of infrastructure investment is expected to weigh on 2024 EBITDA, the analyst tells investors in a research note. The firm now sees a balanced risk/reward with the stock trading at a premium to historical levels.