Downgrade Alert for Carter's (CRI)
Carter's (NYSE:CRI) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $89.87 on volume of 2.3 million shares, above average daily volume of 661,000.
Carter's (NYSE:CRI) has potential upside of 17.6% based on a current price of $89.87 and analysts' consensus price target of $105.71. Carter's shares should first meet resistance at the 200-day moving average (MA) of $95.41 and find additional resistance at the 50-day MA of $103.22.
Carter's share prices have moved between a 52-week high of $112.58 and a 52-week low of $82.22 and closed yesterday at 9% above that low price at $89.87 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.
Carter's, Inc. markets baby and young children's apparel in the United States. The Company's products are offered in department stores and Carter's retail stores. Carter's sells products under the Tykes brand in Target stores and under its Child of Mine brand in Wal-Mart stores.
SmarTrend recommended that its subscribers protect gains by selling shares of Carter's on August 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $99.13. Since that call, shares of Carter's have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades carter's