As previously reported, Wells Fargo analyst Ike Boruchow downgraded Canada Goose to Equal Weight from Overweight with a price target of C$20, down from C$25. With a tough macro backdrop developing in both the U.S. and China, as well as expected unfavorable weather conditions this holiday, the firm is moving to the sidelines. Wells is leaving Q2 estimates unchanged, while lowering its second half of the year numbers on both direct-to-consumer comps and margins.
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