Canada Goose Holdings (GOOS) stock is soaring 5.09% in pre-market trading on Friday, following a significant upgrade from Barclays. The luxury outerwear manufacturer's shares are reacting positively to the improved outlook from the investment bank.

Barclays analyst Adrienne Yih upgraded Canada Goose from Underweight to Equal Weight (also referred to as Hold in some reports). This upgrade represents a more optimistic view of the company's prospects. Additionally, Barclays raised its price target for Canada Goose, increasing it from $11 to $14 per share (or from CA$15.04 to CA$19.17 in Canadian dollars).

The upgrade from a major investment bank like Barclays often signals increased confidence in a company's future performance, which can lead to heightened investor interest. This positive sentiment is likely driving the pre-market surge in Canada Goose's stock price. However, investors should note that despite the upgrade, the overall analyst consensus for Canada Goose remains at a "hold" rating, with a mean price target of CA$14.92, according to FactSet data.