Janney Montgomery Scott Upgrades The Children's Place (PLCE) to 'Buy' as the Turn Is In "Place"

Janney Montgomery Scott upgraded The Children's Place (NASDAQ: PLCE) from Neutral to Buy, price target raised from $45 to $62.

JMS analyst says, "We are upgrading shares of PLCE to BUY based on 1) product improvement resulting in a return to positive comps, 2) inventory control that is positively impacting margin performance, 3) successfully passing on price increases to their target consumer, and 4) new leadership driving positive changes."

"We are raising our FY11 and FY12 EPS estimates to $3.29 from $3.19 (the Street is at $3.22) and to $3.85 from $3.79 (the Street is at $3.80), respectively."

For an analyst ratings summary and ratings history on The Children's Place click here. For more ratings news on The Children's Place click here.

Shares of The Children's Place closed at $45.00 yesterday.

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