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Investing.com - Rayja has removed Aritzia (TSX:ATZ) from its Analyst Current Favorites (ACF) list following the company’s recent quarterly earnings report.
The research firm initially added the Canadian fashion retailer to its ACF list in early June, encouraging investors to purchase shares ahead of the company’s fiscal first-quarter results.
Rayja explained the removal was simply due to the earnings catalyst now being behind the company, rather than any fundamental concerns about Aritzia’s performance or outlook.
Despite removing Aritzia from its current favorites list, Rayja maintained its positive stance on the company’s prospects, noting it continues to "see very favorable trends underlying the company’s growth strategy."
The research firm stated it still believes investors should continue purchasing Aritzia stock, indicating the removal represents a timing adjustment rather than a change in its overall investment thesis.
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