Imperial Capital Cuts PT on Children's Place (PLCE) as Guidance Weak
Imperial Capital maintained an In-Line The Children's Place (NASDAQ: PLCE) and cut its price target to $53.00 (from $59.00) following the company’s Q3 results that included sluggish guidance.
"Despite near-term challenges, including the impact of Hurricane Sandy, we believe Children's Place remains well positioned to generate operating margin improvement, reflecting lower product costs, an improved merchandise assortment, a Canadian store recovery, stabilization of the outlet division, and relatively easy comparisons," said analyst Lee J. Giordano.
He reduced 4Q12 EPS estimates by $0.13 to $1.06 and FY12 EPS estimate by $0.10 to $3.15, consistent with the high-end of company guidance. Imperial Capital's revised price target reflects a 14x mulitple on 2013 EPS estimates.
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 $47.82 yesterday, with a 52 week range of $43.12-$62.24.
"Despite near-term challenges, including the impact of Hurricane Sandy, we believe Children's Place remains well positioned to generate operating margin improvement, reflecting lower product costs, an improved merchandise assortment, a Canadian store recovery, stabilization of the outlet division, and relatively easy comparisons," said analyst Lee J. Giordano.
He reduced 4Q12 EPS estimates by $0.13 to $1.06 and FY12 EPS estimate by $0.10 to $3.15, consistent with the high-end of company guidance. Imperial Capital's revised price target reflects a 14x mulitple on 2013 EPS estimates.
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 $47.82 yesterday, with a 52 week range of $43.12-$62.24.