Warby Parker Shines, Canada Goose Slips: Goldman Sachs Adjusts Ratings On Apparel Sector Giants
Portfolio Pulse from Lekha Gupta
Goldman Sachs analyst Brooke Roach revised ratings for Warby Parker (WRBY) and Canada Goose (GOOS) ahead of their Q3 earnings. WRBY was upgraded to Buy with a price target increase, while GOOS was downgraded to Sell due to competitive pressures and a challenging macroeconomic environment.
October 21, 2024 | 6:14 pm
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POSITIVE IMPACT
Goldman Sachs upgraded Warby Parker to Buy, raising the price target to $18. Positive factors include insurance partnerships, growth in vision care, and improved gross profit rates.
The upgrade to Buy and increased price target suggest a positive outlook for WRBY. Factors like insurance partnerships and growth in the vision care market are expected to drive stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs downgraded Canada Goose to Sell, lowering the price target to $9. Concerns include competitive pressures, a slowing luxury market, and macroeconomic challenges in China.
The downgrade to Sell and reduced price target indicate a negative outlook for GOOS. Competitive pressures and a challenging macroeconomic environment are expected to impact stock performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100