BofA lowered the firm’s price target on Carter’s (CRI) to $53 from $54 and keeps an Underperform rating on the shares. Following Q3 results, the firm is increasing its FY24 EPS view by 37c to $5.15 to reflect the Q3 beat, but is lowering its FY25 EPS forecast by 25c to $4.75 to reflect a lower margin forecast, telling investors that the firm expects margin headwinds will persist into next year.
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Read More on CRI:
- Carter’s price target lowered to $65 from $72 at Wells Fargo
- Citi remains cautious on shares of Carter’s
- Morning Movers: Capri sinks after judge blocks planned takeover by Tapestry
- Carter’s raises FY24 adjusted EPS to $4.70-$5.15 from $4.60-$5.05
- Carter’s sees Q4 adjusted EPS $1.32-$1.72, consensus $1.85
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