UPDATE: Topeka Capital Markets Initiates Children's Place Retail Stores with Hold, Awaiting Greater Visibility

In a report published Thursday, Topeka Capital Markets analyst Dorothy S. Lakner initiated coverage on Children's Place Retail Stores

with a Hold rating and $50.00 price target. In the report, Lakner noted, “We like the transformation CEO Jane Elfers has brought about at PLCE, with much improved merchandise and marketing as well as a more profitable outlet business, and new plans to improve sourcing and reduce expenses. However, we think a tough 1H13 is likely to keep a lid on the stock over the near-term, so will wait for greater visibility on 2H13 before turning more positive.” Children's Place Retail Stores closed on Wednesday at $47.42.