Why Carter's Stock Slipped Today
Children's clothing retailer Carter's (NYSE: CRI) wasn't a stock investment fit for adults as the trading week started. Investors traded out of the company after an analyst cut his price target aggressively. The damage was limited, however, as Carter's closed the day only 1% lower. Before market open, Ike Boruchow from the prominent U.S. bank Wells Fargo reduced his fair value assessment on Carter's to $30 per share from $42. In doing so, the analyst maintained his equal weight (hold, in other words) recommendation. Image source: Getty Images. Continue reading