UPDATE: Goldman Sachs Upgrades Carter's to Buy

According to Goldman Sachs, Carter's CRI is upgraded to Buy. Goldman Sachs said that it upgrades CRI to Buy from Neutral as: CRI is in the early stages of raising prices in its wholesale business (50% of sales) to offset higher input costs. “Our 6-month price target is raised to $46 (from $31) and is based on fundamental valuation (85%) of $45 (we apply CRI's historical P/E multiple of 14X to 2013 estimates and discount it back) and LBO valuation (15%) of $50.” Carter's closed yesterday at $40.16.