Fed’s Powell opens door to potential rate cuts at Jackson Hole
Investing.com - BMO Capital raised its price target on Groupe Dynamite Inc (GRGD:CN) to C$42.00 from C$33.00 on Wednesday, while maintaining an Outperform rating on the stock.
The price target increase follows BMO’s July 25 web traffic analysis, which showed overall positive trends for the Canadian fast fashion retailer. Total (EPA:TTEF) web traffic in July grew 17% year-over-year, accelerating from just 2% growth in June.
The analysis revealed divergent regional performance, with U.S. web traffic growth accelerating to 52% year-over-year in July compared to 17% in June. Canadian web traffic declined 15% year-over-year in July, slightly worse than the 13% decline observed in June.
BMO noted that Groupe Dynamite ran its summer sale from June 29 to July 13, which likely influenced traffic patterns. The firm also mentioned that while tariff situations remain fluid, U.S.-China trade tensions have eased.
BMO believes Groupe Dynamite is well-positioned for growth in the North American fast fashion women’s apparel market, citing several drivers that could support mid-teens annual adjusted EBITDA growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.