Barclays Maintains an 'Overweight' on The Children's Place (PLCE); Review of Analyst Day Meeting
PLCE Hot Sheet
Rating Summary:8 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Barclays maintains an 'Overweight' on The Childrens Place (NASDAQ: PLCE), PT $63.
Barclays analyst says, "We continue to think PLCE is making real progress in the turnaround, and we liked the direction of the go-forward product (especially the accessories and shine) and we continue to think that this is a better management team putting improved business practices in place. We see CEO Jane Elfers' new management team driving a successful turnaround to capture the strong margin recovery potential in this story and we believe a double digit operating margin is possible over time. While the environment is tough and we don't think PLCE was immune to Gymboree's (Nasdaq: GYMB) promotions, we think improved product and better business practices help offset. Better product, more rational inventory purchases, improved allocation, and an improved outlet business should drive a meaningful improvement in margin over time."
For more ratings news on The Childrens Place click here and for the rating history of The Childrens Place click here.
Shares of The Childrens Place closed at $45.89 yesterday, with a 52 week range of $39.84-$57.63.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
Barclays analyst says, "We continue to think PLCE is making real progress in the turnaround, and we liked the direction of the go-forward product (especially the accessories and shine) and we continue to think that this is a better management team putting improved business practices in place. We see CEO Jane Elfers' new management team driving a successful turnaround to capture the strong margin recovery potential in this story and we believe a double digit operating margin is possible over time. While the environment is tough and we don't think PLCE was immune to Gymboree's (Nasdaq: GYMB) promotions, we think improved product and better business practices help offset. Better product, more rational inventory purchases, improved allocation, and an improved outlet business should drive a meaningful improvement in margin over time."
For more ratings news on The Childrens Place click here and for the rating history of The Childrens Place click here.
Shares of The Childrens Place closed at $45.89 yesterday, with a 52 week range of $39.84-$57.63.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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