Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Aritzia (TSE:ATZ) Stock

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Aritzia to C$155 (from C$148) and kept an "outperformer" rating, implying roughly a 10.98% upside from the current share price.
• Analysts are broadly positive: the stock has a consensus Buy rating with an average target of C$151.08 after multiple firms (TD, RBC, BMO, Truist, Wells Fargo) increased their targets this year.
• Despite the upgrades, shares fell 4.6% to C$139.67 on Monday; Aritzia trades at a high P/E of 47.67, a market cap of C$16.17 billion, and a relatively elevated debt-to-equity of 77.42.

Aritzia (TSE:ATZ - Get Free Report) had its price objective boosted by equities research analysts at Canadian Imperial Bank of Commerce from C$148.00 to C$155.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price target suggests a potential upside of 10.98% from the company's current price.

ATZ has been the topic of a number of other reports. TD Securities upped their target price on Aritzia from C$133.00 to C$155.00 and gave the stock a "buy" rating in a research report on Friday, January 9th. Wells Fargo & Company upped their target price on Aritzia from C$110.00 to C$140.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada upped their price target on Aritzia from C$116.00 to C$150.00 and gave the stock an "outperform" rating in a report on Friday, January 9th. BMO Capital Markets set a C$163.00 price target on Aritzia and gave the stock an "outperform" rating in a report on Thursday, March 19th. Finally, Truist Financial upped their price target on Aritzia from C$116.00 to C$157.00 in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$151.08.

Aritzia Stock Down 4.6%

Shares of TSE:ATZ traded down C$6.75 during trading on Monday, reaching C$139.67. 326,786 shares of the stock were exchanged, compared to its average volume of 662,983. The company has a debt-to-equity ratio of 77.42, a current ratio of 1.44 and a quick ratio of 0.19. Aritzia has a 1-year low of C$54.87 and a 1-year high of C$147.85. The stock has a fifty day moving average of C$122.40 and a two-hundred day moving average of C$114.86. The firm has a market cap of C$16.17 billion, a price-to-earnings ratio of 47.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.95.

About Aritzia

Aritzia Inc is an integrated design house of exclusive fashion brands. It designs apparel and accessories for its collection of exclusive brands and sells them under the Aritzia banner. The category of products offered by the firm is blouses, T-shirts, pants, dresses, sweaters, jackets and coats, skirts, shorts, jumpsuits, and accessories. Its geographical segments include Canada and the United States. The company generates the majority of revenue from Retail, followed by eCommerce.

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