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Original Title: Canada Goose falls 4% after BTIG turns bearish with two-notch downgrade

BTIG drops Canada Goose (NYSE:GOOS) to a Sell rating from Buy in a biting two-notch downgrade.
"Our expectation for a revenue ramp into holiday has not materialized thus far, and as such is putting FQ3 (which represents over 100% of earnings for the year) at risk of missing consensus estimates. While we continue to hold the brand and the company in high regard, we believe a lackluster sales recovery stemming from a warmer start to winter and ensuing weak digital demand will weigh on the stock until more tangible catalysts emerge that reflect an improving earnings recapture potential, likely not until next summer," warns analyst Camilo Lyon.
Lyon estimates that Canada Goose's digital traffic is down 36% YTD when it should be surging and believes the company's favorable long-term longstanding position of maintaining price integrity by not promoting could exacerbate these demand challenges in the short term.
The firm assigns a price target of C$35. GOOS closed at C$50.22 in Toronto yesterday.
Shares of Canada Goose are down 4.01% in premarket U.S. action to $37.10.
Seeking Alpha authors and Wall Street analysts are on average bullish on Canada Goose.