Goldman Sachs Downgrades The Children's Place (PLCE) to Neutral

Goldman Sachs downgraded The Children's Place (NASDAQ: PLCE) from Buy to Neutral with a price target of $51 following lower Q4 guidance.

"Given the current headwinds facing kids retailers, plus volatility associated with PLCE’s lower-income customer, we believe it is prudent to step to the sidelines until we have more confidence that it can capitalize on its new systems/markdown processes and that margin impact will be substantial", the firm commented.

Goldman lowered 2011/2012/2013 EPS to by 11%/9%/9% to $2.91/$3.69/$4.25 based on lower margins.

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 $49.58 yesterday.

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