Canada Goose Fiscal Q1 Unlikely to Affect Stock Performance, UBS Says

MT Newswires Live
Jul 29

Canada Goose's (GOOS) fiscal Q1 is not expected to impact stock performance or analysts' estimates as it is typically the company's smallest quarter, accounting for just 5% sales, UBS Securities said in an earnings preview emailed Monday.

Market sentiment around Canada Goose appears slightly bullish, supported by factors such as falling short interest, a rising stock price, and takeover speculation, but not company fundamentals due to a general slowdown in luxury demand, according to the firm.

US Google search trends and China's gross merchandise value for Canada Goose products showed growth in fiscal Q1, while the company's own website traffic dropped year-over-year, UBS added.

UBS said that the options market is pricing in a 9% post-earnings move, below the historical average earnings move of 11.4%.

Canada Goose will release its fiscal Q1 results on Thursday.

UBS has a neutral rating on Canada Goose's stock with a $11 price target.

Price: 13.66, Change: -0.69, Percent Change: -4.78

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