Список проголосовавших за комментарий " <table class="BriefingDataTable" border="0" cellspacing="0" cellpadding="0"><tr> <td class="tickerColumn"> </td> <td class="articleColumn">Columbia Sportswear downgrade details — to Hold at Stifel; tgt lowered to $60 (55.06)Stifel downgrades COLM to Hold from Buy and lowers their tgt to $60 from $68. Looking across 2017, firm sees rev and earnings growth sufficient to support multiple expansion unlikely and are leery of multi-year structural headwinds including 1) retailer resistance to advance commitments, 2), excess capacity in the N. American outerwear market, and 3) channel partner retail footprint rationalization and the resulting pressure to volumes. <strong>They are taking a more conservative view on FY17 and FY18 ests and lowering their tgt to $60 from $68 reflecting a 19.5x P/E multiple on their FY18E est of $3.09 and a 10.5X TEV/EBITDA multiple on their FY18 EBITDA est of $363mn.</strong> While appreciative of Columbia's operating excellence, firm is challenged to justify sufficient upside to support a Buy rating.</td> </tr></table>"