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