DA Davidson raised the firm’s price target on Citi Trends to $33 from $29 and keeps a Buy rating on the shares. The company’s holiday sales report showed a strong sequential improvement in year over year comps, while the management also reaffirmed its prior year full year guidance for sales, gross margin, EBITDA, capex, and year end cash balance, the analyst tells investors in a research note. DA Davidson adds that it is encouraged by the progress as Citi Trends investments seem to be reaping benefits.
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