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UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Lowers PT on Children's Place Retail Stores

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Piper Jaffray Downgrades Childrens Place To Neutral

In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on Children's Place Retail Stores (NASDAQ: PLCE), but lowered its price target from $58.00 to $50.00.

BMO Capital noted, “The degree of impact from the storm was greater than we anticipated, but as 30% of the company's total revenue is attributable to the Northeast in 4Q, we understand management's conservatism with respect to 4Q guidance. The backlog of inventory in the children's space coming out of the storm heightened promotional environment early on. The company noted that sales trends have now returned to more normalized levels, and, in our view, the easy December and January comparison to last year's warm weather could allow for some reprieve as the quarter wears on.”

Children's Place Retail Stores closed on Thursday at $48.91.

Latest Ratings for PLCE

DateFirmActionFromTo
May 2015Piper JaffrayDowngradesOverweightNeutral
May 2015CitigroupMaintainsNeutral
May 2015Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for PLCE
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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