Aritzia (ATZ) Receives a Buy from CIBC

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Services sector company, Aritzia (ATZResearch Report). Analyst Mark Petrie from CIBC rated Aritzia (ATZResearch Report) a Buy, setting a C$23 price target.

Petrie has an average return of 7.9% when recommending Aritzia.

According to TipRanks.com, Petrie is ranked #415 out of 5252 analysts.

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Currently, the analyst consensus on Aritzia is a Strong Buy with an average price target of C$21.33, which is a 27.6% upside from current levels. In a report released yesterday, RBC Capital also maintained a Buy rating on the stock.

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Based on Aritzia’s latest earnings release for the quarter ending November 30, the company reported a quarterly net profit of C$32.6 million. In comparison, last year the company had a net profit of C$15.9 million.

Aritzia, Inc. is a design house and fashion retailer, which designs apparels and accessories for its collection sold under the Aritzia brand. It operates through Canada and United States geographical segmentsThe company was founded by Brian Hill in 1984 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$16.72.