Canada Goose, VF Corp., Rocky Brands Surge as Baird Upgrades Stocks

Shares of Canada Goose Holdings (GOOS), Timberland and Vans parent VF Corp. (VFC), and footwear maker Rocky Brands (RCKY) surged Tuesday after Baird upgraded the stocks ahead of a “favorable 2026 macro scenario.”

In a research note on the “Apparel, Footwear & Fitness” sector, Baird analysts wrote that “despite fears of lower consumer spending, Back to School so far looks strong (albeit with some increased bifurcation) even amid tariff-related price increases,” and that “easier upcoming comparisons into the fall could further support the group.”

Baird lifted its rating on Canada Goose stock to “outperform” from “neutral” and its price target to C$24 from C$18 on the maker of high-end winter jackets’ “improved product, merchandising focus, and marketing investment have spurred better brand momentum.”

The analysts also raised their rating to “outperform” on VF Corp. stock, and increased their price target to $20 from $14, noting The North Face owner’s “sequentially improving financials, ramping cost savings, and high operating and financial leverage make VFC compelling in a favorable 2026 macro scenario.”

Bair also lifted its rating on Rocky Brands to “outperform” and its price target to $40 from $30, writing that “while a ~$200M market cap limits current investment appeal for shares, we have been highly encouraged by RCKY’s recent performance.”

Canada Goose, VF Corp., and Rocky Brands shares were up about 5%, 6%, and 12%, respectively, early Tuesday afternoon. Canada Goose and Rocky Brands are comfortably higher in 2025, but VF Corp. shares have lost about a third of their value.