CTRN - Citi Trends: Trending Higher With New Growth Strategy

• Citi Trends is an undervalued specialty apparel retailer with a debt-free balance sheet and all-new leadership.
• The market is discounting the earnings growth potential of new store openings, store remodels, more productive merchandising management, and new supply-chain efficiencies.
• Citi Trends specializes in an underserved customer niche, with neighborhood stores as one-stop shops for African-American and Hispanic families.
• We anticipate Citi Trends will pre-announce better-than-expected 2021 holiday sales, instill greater confidence with an updated multi-year growth plan, and reinstate its dividend.
• We expect the stock to re-rate higher as these catalysts bear fruition, resulting in shares increasing by at least 37% to $107 over the next 12 months.

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