Wedbush Maintains an 'Outperform' on The Children's Place (PLCE); Removing from Best Ideas List

Wedbush maintains an 'Outperform' on The Children's Place (NASDAQ: PLCE) price target raised from $52 to $60.

Wedbush analyst says, "The Wedbush Investment Committee is removing The Children's Place Retail Stores from the Best Ideas List. We believe PLCE lacks the positive near-term catalysts to sustain the recent run up in the stock. Since we added PLCE to the BIL in mid-August, the stock has appreciated about 30% vs. the Softlines Group average of +5% and S&P Retail Index up +10%."

"We are raising our Q4 EPS estimate to $1.22 from $1.14 prior on expectations for positive comp momentum. Our F11 EPS estimate increases to $3.30 from $3.15 prior while F12 EPS estimate becomes $3.90 from $3.65 prior on improving sales momentum."

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 $51.81 yesterday.

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