Raymond James analyst Michael Glen downgraded Aritzia (ATZAF) to Market Perform from Outperform with a price target of C$58, up from C$52.50, ahead of the Q3 earnings report. The downgrade is largely valuation-driven, the analyst tells investors in a research note. The firm likes the growth story surrounding Aritzia and has a number of positive things to say regarding the outlook and strategy, but believes the current valuation now reflects a number of positives.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ATZAF: