08:30 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month price target of $84, based on 12.9x our 2024 EPS estimate and in line with the company's 3-year average forward P/E multiple of 12.6x. We maintain our 2024 and 2025 EPS estimates of $6.50 and $6.75, respectively. CRI posts normalized Q1 EPS of $0.98 vs. $0.98, $0.21 above consensus estimates on revenues of $661M vs. $696M and $21M above estimates. By segment in Q1, U.S. Retail declined 5.0% Y/Y, U.S. Wholesale declined 5.7%, and International increased 2.7%. Q1 operating margin expanded 20 bps Y/Y to 8.3% due to favorable ocean freight rates and input costs, partially offset by fixed cost deleveraging and new store expenses. Inventory declined 22.9% to $473M. CRI pays a $0.80 quarterly dividend, which yields over 4% and looks attractive. CRI shares trade near 10x our 2024 EPS estimate, which we believe presents an opportunity. We believe inventory is lean and CRI should be able to return to more efficient operations and stable growth.