UPDATE: Topeka Capital Markets Upgrades Children's Place Retail Stores Following Strong Quarter Report
In a report published Friday, Topeka Capital Markets analyst Dorothy S. Lakner upgraded the rating on Children's Place Retail Stores (NASDAQ: PLCE) from Hold to Buy, and raised the price target from $58.00 to $63.00.
In the report, Topeka Capital Markets noted, “In the midst of a retail rout for teens, PLCE pulled off a much better quarter, even noting a solid start to BTS. Strategies for improved merchandise assortments are working and margins are moving up in outlets and Canada. Expenses are being brought down and PLCE seems set to run in a tough environment. Rating raised to Buy from Hold, and our PT is now $63 up from $58.”
Children's Place Retail Stores closed on Thursday at $54.76.
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