UDPATE: Miller Tabak & Co Raises PT to $60 on Children's Place

A report from Miller Tabak & Co reiterates its Buy rating and raises its price target from $53 to $60 on Children's Place

. The report states, “We think $4.00-$4.50 of earnings power remains an achievable objective within the foreseeable future. Our target price objective is based on the mid-point of a 12-15 P/E multiple range on that earnings power objective which is also consistent with the mid-point of the recent valuation range.” PLCE closed yesterday at $53.54.