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Fly News Breaks for March 20, 2018
CTRN
Mar 20, 2018 | 09:24 EDT
As reported earlier, MKM Partners analyst Patrick McKeever upgraded Citi Trends to Buy from Neutral and raised his price target to $32 from $25. McKeever cites the company's "strong" Q4 results with "growing consistency" across the merchandise categories that's adding to his confidence in Citi Trends' comps growth trends and capacity expansion. The analyst also notes an attractive PE valuation on the stock at 14.9-times the FY19 EPS view relative to peers' valuation of 17- to 21-times.
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