Craig-Hallum raised the firm’s price target on Citi Trends (CTRN) to $20 from $14 and keeps a Hold rating on the shares. The firm notes Citi Trends delivered a strong Q3 update that saw sales and profitability beats driven by improved traffic trends and a more compelling assortment. Guidance for Q4 also came in better-than-expected, with same-store sales trends sustaining at high single digits in November, Craig-Hallum adds.
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