Wedbush Maintains Neutral Rating for Carter's: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wedbush has maintained its Neutral rating on Carter's (NYSE:CRI) but raised its price target from $67.00 to $78.00. Despite this, Carter's shares are currently trading at $82.74, indicating a potential decline if the price adjusts to the new target. Carter's Inc specializes in children's apparel and operates through various sales channels in the U.S. and internationally, with a significant portion of its sales in the U.S.
February 23, 2024 | 5:00 pm
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Wedbush maintains Neutral on Carter's, raises price target to $78. Current trading price is $82.74, suggesting a potential decrease.
The adjustment of the price target by Wedbush to $78, despite being an increase from the previous target, is still below the current trading price of $82.74. This suggests that Wedbush believes the stock is overvalued at its current price, potentially leading to a short-term decrease in Carter's stock price. The Neutral rating indicates that Wedbush does not see significant upside or downside from the current level, but the increase in the price target suggests a slightly more positive outlook than before.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100