DA Davidson analyst Michael Baker raised the firm's price target on Citi Trends to $52 from $43 and keeps a Buy rating on the shares. There's still a long way to go in this merchandise driven turnaround, led by a new CEO, as the company's high single to low double digit comp momentum is continuing into the holidays, the analyst tells investors in a research note. Inventory is fresh, differentiated and on-trend, and a high fixed cost structure means above average incremental margins, the firm added.
