Groupe Dynamite Maintained at Outperform at BMO Following Q3 Results; Price Target Kept at C$25.00

MT Newswires Live01:32

BMO Capital Markets reiterated its outperform rating on the shares of Groupe Dynamite (GRGD.TO) and its C$25.00 price target following third-quarter results from the clothing retailer.

"In its first post-IPO quarter, Groupe Dynamite reported FQ3/24 results that were in-line with pre-released ranges and reflected strong y/y growth (revenue +17.5%, adj. EBITDA +22.2%). Retail and e-commerce sales both grew strongly and margins were robust. FQ4 is tracking in-line with expectations, ahead of the productive holiday selling period. As outlined in our recent initiation, we believe that Groupe Dynamite is well-positioned for growth in the North American fast fashion women's apparel market, with several drivers of annual mid-teens adj. EBITDA growth. We see upside in the stock," analyst Stephen MacLeod wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 21.17, Change: +0.21, Percent Change: +1.00

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