UPDATE: Wedbush Raises Price Target on the Children's Place Retail Stores to $60

According to Wedbush, the Children's Place Retail Stores (NASDAQ: PLCE) price target is raised to $60.

Wedbush said that 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%.”

The Children's Place Retail Stores closed yesterday at $51.81.