Canada Goose upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo analyst Ike Boruchow upgraded Canada Goose (GOOS) to Equal Weight from Underweight with an unchanged price target of C$11. The firm adjusted ratings in retail cut 2026 earnings estimates well below the Street to reflect current tariff headwinds and assumptions for a mild recession. Both headwinds will begin impacting numbers in the second half of 2025, the analyst tells investors in a research note. Wells sees a more balanced risk/reward setup for Canada Goose. While fundamental concerns remain, with the stock’s valuation at historical lows, Canada Goose’s multiples have troughed and downside risk is now limited, contends the firm.