Oppenheimer Remains Bullish on Carter's (CRI) Following Recent Sell-Off
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Oppenheimer reiterated an Outperform rating and $115.00 price target on Carter's (NYSE: CRI) following the company's recent sell-off.
Analyst Anna Andreeva commented, "CRI has been a big laggard (down 14% since pre-2Q16 print on 7/27, group down 5%), with 3-4 multiple points shaved off, while EPS outlook hasn't really changed ('16E EPS tweaked down by few pennies to low end, we maintained '17E). Reasons for underperformance, in our view: 1) concerns over negative wholesale trends for Spring '17 and potentially beyond (M door closures, some of department stores beefing up exclusive/private-label assortment); 2) foreign tourism dynamics not improving (within annual guide, CRI still expects "less bad" international demand in 2H16). We think the stock is pricing in haircut to estimates already; model has cushions (lower AUC/ better AUR realization, share buyback), with longer term algorithm still same ($7+ EPS power by 2020, 7-8% CAGR)."
Shares of Carter's closed at $97.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Netflix (NFLX) PT Raised to $165.00 at Oppenheimer
- UPDATE: SunTrust Robinson Humphrey Starts TransDigm (TDG) at Buy
- Tutor Perini Corporation (TPC) PT Raised to $35.00 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!