#4 - Canada Goose Holdings (NYSE:GOOS)
Canada Goose Holdings (NYSE:GOOS) is doing its part to aid in the Covid-19 pandemic by manufacturing scrubs and gowns in its Toronto and Winnipeg facilities. The company has an initial goal of producing 10,000 units. But like the other stocks in this presentation, the question is what will happen after the economy re-opens.
In the case of GOOS stock, the nagging question is whether the company will see a rebound in sales for its luxury outerwear products. But investors may have some potentially good news as China is reopening. As the French retailer Hermes reopened its stores in Guangzhou, China the company broke a single-day record with approximately $2.7 million in sales. Could this be anecdotal? Perhaps. But it could also be indicative of pent-up demand for high-end goods.
And GOOS just entered the Chinese market last year. So the company is certainly hoping that sales of Hermes goods in the spring will translate to demand for their winter jackets come the fall.
Analysts are giving the company a consensus price target of $39.64 which is an increase of over 70% from its current level.
About Canada Goose
Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.
Read More - Current Price
- $9.52
- Consensus Rating
- Reduce
- Ratings Breakdown
- 1 Buy Ratings, 5 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $11.80 (24.0% Upside)
