Research
Groupe Dynamite Price Target Lowered at TD, CIBC
Analysts at TD Securities and CIBC Capital Markets lowered their price targets on Groupe Dynamite Inc. (GRGD.TO) to $85 from $105, and to $73 from $100, respectively.TD analyst Brian Morrison maintained a Buy rating on shares of the Canadian clothing company following its quarterly results on Tuesday. The stock declined $26.70, or 36%, to $47.74 on the Toronto Stock Exchange.Morrison said GRGD fell despite a fiscal Q1 2026 EPS beat and annual guidance raise. "The SSSG 'miss' and unchanged but decelerating outlook the remainder of the year, trumped investor narrative and numerous positives driving the financial performance," the analyst said in a note to clients."Our financial forecast are largely unchanged, but investor sentiment appears to be, in turn pressuring the applied multiple," Morrison said. "We view the reaction as overdone."CIBC analyst Mark Petrie maintained an Outperformer rating on the stock.Petrie said GRGD has declined approximately 50% in the past six weeks."Concerns are centred on the deceleration of same-store sales (SSS) growth, which slowed intra-quarter in FQ1 and is up 9% FQ2-to-date," the analyst said in a note to clients."Despite the sell-off, our estimates are little changed, and the company's outlook was tweaked higher," Petrie said."We see compelling value in the shares."(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
$GRGD.TO