UPDATE: Piper Jaffray Upgrades Citi Trends to Neutral
According to Piper Jaffray, Citi Trends (NASDAQ: CTRN) is upgraded to Neutral.
Piper Jaffray said that it is upgrading shares of CTRN from Underweight to Neutral following better than expected FQ1 results. “We are raising our price target from $9 to $14 based on 12x FY14 EPS of $0.69 plus $6/share in cash and investments.”
Citi Trends closed yesterday at $14.15.
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