Wedbush Morgan Upgrades The Children's Place Retail Stores (PLCE) to Buy
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Wedbush Morgan upgrades The Children's Place Retail Stores (Nasdaq: PLCE) from Hold to Buy. Price target $42.
Wedbush analyst says, "Given our expectations for strong operating margin restoration from recent depressed levels, we are upgrading shares of PLCE to BUY from HOLD as we look for better-than-expected earnings results to drive share appreciation...As our “downside scenario” implies current valuation already discounting significant risks to potential disappointments to consensus estimates, we view risk/reward profile as compelling...With the consumer environment, we continue to view children’s retailers as more defensive and believe The Children’s Place’s value messaging should also resonate with shoppers."
The Children’s Place Retail Stores, Inc. is a specialty retailer of children’s merchandise under its own The Children’s Place and licensed Disney Store brand names.
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