Canada Goose (GOOS) shares surged 6.19% in pre-market trading on Tuesday, as investors reacted positively to a significant analyst upgrade. The luxury outerwear manufacturer's stock is gaining momentum following Baird's decision to upgrade its rating from Neutral to Outperform.

The upgrade from Baird comes as a vote of confidence in Canada Goose's future prospects, potentially signaling expectations of improved performance or strategic developments for the company. Analyst upgrades often lead to increased investor interest and can drive short-term stock price movements, as evidenced by today's pre-market rally.

Despite this positive development, it's worth noting that the overall analyst sentiment on Canada Goose remains mixed. According to FactSet data, the average rating for the stock is currently "hold," with a mean price target of CA$16.13. This upgrade from Baird could potentially influence other analysts' views on the stock in the coming days and weeks, and investors will be watching closely for any shifts in the broader market sentiment towards Canada Goose.