UPDATE: Bank of America Upgrades Children's Place to Buy
Bank of America has upgraded The Children's Place (NASDAQ: PLCE) from Underperform to Buy and has raised the price objective from $50 to $56 in a research report out today.
In the report, Bank of America writes, "We are upgrading Children's Place as we believe 1) long term gross margin (GM) drivers are intact after a recent downward EPS revision, creating potential upside for 2H12 earnings and 2) consensus EPS estimates are too low for F2012."
Shares of The Children's Place are currently trading at $50, up 2.73% from yesterday's close.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We're Loving
