Citi lowered the firm’s price target on Carter’s to $64 from $66 and keeps a Sell rating on the shares. The analyst expects a Q1 earnings beat and for wholesale sales to beat guidance of down mid-teens, but models wholesale sales down high-single-digits in Q1 and sees the company guiding wholesale sales below the Q2 consensus estimate of up 8%. Citi believes the setup into the earnings print is tough and sees limited upside to shares near-term.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRI:
- Carter’s price target raised to $75 from $70 at Wells Fargo
- Carter’s sees Q1 adjusted EPS 60c-70c, consensus $1.07
- Carter’s raises quarterly dividend 7% to 80c from 75c per share
- Carter’s sees FY24 adjusted EPS growth mid single digits, consensus $6.26
- Carter’s reports Q4 adjusted EPS $2.76, consensus $2.61
