Carter’s price target raised to $33 from $28 at Wells Fargo

Wells Fargo raised the firm’s price target on Carter’s (CRI) to $33 from $28 and keeps an Underweight rating on the shares ahead of quarterly results. The firm is raising Q1 estimates, lowering Q2, and not expecting any full year guide raise. With the stock gaining momentum following new CEO’s improved strategic vision, Wells remains bearish and calls out risk to quarter-to-date/Q2 guide while also not seeing any upward revisions following this print.