Citi maintains a Sell rating on Carter’s (CRI) with a $50 price target saying the Q3 earnings beat was driven by better U.S. direct-to-consumer comps and lower taxes. The firm sees another comp beat in Q4 says the company’s comps have improved due to management’s decision to invest in price, “highlighting the sales/margin trade-off facing” Carter’s. Given its view that fiscal 2025 will be another down sales and earnings year, Citi remains cautious on Carter’s shares.
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