Company News

BUZZ-Canada Goose Holdings falls as Wells Fargo downgrades company

** U.S.-listed shares of Canadian retailer down 4.3 pct at $47.50 premarket

** Wells Fargo downgrades co to “market perform” from “outperform”; cuts PT to C$68 from C$80

** Brokerage says multinational brands as a whole remains under more relative pressure than traditional retailers

** Says GOOS is more expensive today than it was following their IPO; the share is trading at a higher price-to-sales multiplier ratio than any other brand has ever traded

** Recent slowdown in both Google trend search and Instagram engagement over the holiday qtr (most notably in Dec.) is a matter of concern - Wells Fargo

** 6 of 7 brokerages rate the stock “buy” or higher, 1 “hold” ; their median PT is $97.95

** U.S-listed shares of Canada Goose have risen ~41 pct in the last 12 months (Reporting by Shradha Singh in Bengaluru)