The Globe and Mail reports in its Thursday, July 13, edition that Aritzia surprised investors Tuesday with a cut to its forward guidance. The Globe's Darcy Keith writes that accordingly, Canaccord Genuity analyst Derek Dley continues to rate the shares "buy." He swung an axe, however, at his share target, chopping it back by $13 to $37. Analysts on average target the shares at $37.50, down from $50.14 a month ago. Mr. Dley says in a note: "All told, we acknowledge that the quarter has created an added element of uncertainty in the near-term, with demand expectations clearly lower than they were about three months ago. Having said that, we remain optimistic about Aritzia's growth prospects beyond F2024, with new boutique openings weighted toward the end of the year and 20-per-cent-square-footage growth slated for F2025, along with higher levels of innovation slated to return to Aritzia's assortment for the Spring 2024 selling season. Though we imagine uncertainty surrounding demand will keep some investors on the sidelines in the near-term, Aritzia's medium-to-long term growth prospects keep us 'buy'-rated." The Globe reported on May 4 that CIBC had cut its share target by $20 to $44, when Aritzia was worth $34.15.