Wedbush Downgrades The Children's Place (PLCE) to Neutral; Lighten Up Before Q4 Results
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Price: $2.44 --0%
Rating Summary:
11 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
Rating Summary:
11 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
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Wedbush downgraded The Children's Place (NASDAQ: PLCE) from Outperform to Neutral, price target lowered from $53 to $46.
Wedbush analyst says, "We recommend investors lighten up their positions of PLCE shares as we approach Q4 earnings on 3/7/12 before the market open as we anticipate conservative guidance along with ~25% short interest to pressure the shares. With checks indicating deeper discounts year-over-year and lingering seasonal carryover that could impact Q1 margins, we are reducing our Q1 forecasts below consensus (from $1.27 to $1.05)."
"Our F11 EPS estimate remains $2.99 vs. $3.12 LY while our F12 EPS estimate rises to $3.50 from $3.40 prior, although below consensus’ $3.64."
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 $49.42 yesterday.
Wedbush analyst says, "We recommend investors lighten up their positions of PLCE shares as we approach Q4 earnings on 3/7/12 before the market open as we anticipate conservative guidance along with ~25% short interest to pressure the shares. With checks indicating deeper discounts year-over-year and lingering seasonal carryover that could impact Q1 margins, we are reducing our Q1 forecasts below consensus (from $1.27 to $1.05)."
"Our F11 EPS estimate remains $2.99 vs. $3.12 LY while our F12 EPS estimate rises to $3.50 from $3.40 prior, although below consensus’ $3.64."
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 $49.42 yesterday.
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