RBC Capital upgraded Aritzia (ATZAF) to Outperform from Sector Perform with an unchanged price target of C$56. The firm views the 11% share price decline since Aritzia reported Q2 results two weeks ago as “unjustified given underlying momentum and outlook communicated with the quarter.” The firm now has greater confidence in the U.S. backdrop and associated consumer spending, and Aritzia’s ability to leverage its growth algorithm.
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