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Groupe Dynamite Price Target Lowered to CA$104 at RBC

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RBC Capital Markets lowered its price target on Groupe Dynamite Inc. (GRGD.TO) to CA$104 from CA$107.

Analyst Irene Nattel maintained an outperform rating on shares of the Canadian clothing company following its quarterly results on Thursday.

"Q2 reinforces our view of GRGD as a compelling small and mid-cap name with sector-leading growth outlook and optionality for free cash flow deployment," Nattel said in a note to clients. The price target change stemmed from "revised multiples reflecting normalization of revenue growth," the analyst wrote.

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