Loading...
Loading...
Goldman Sachs sees 31 percent upside in Childrens Place Inc
PLCE over the next 12 months as "we are increasingly confident in the durability of the transformation, which inflected six months ago."
Analyst Taposh Barl comments that an earnings beat coupled with a 15 percent sell off create an opportunity for investors to build their position.
The research house outlines two catalysts. First, significant margin increases over the next several years. Goldman Sachs expects EBIT margin to increase from 7.1 percent to 8.8 percent by 2018. Second, the acquisition of a mall based apparel retailer.
Barl's increase in price target from $74 to $93 is the result of increased EPS estimates and PE ratio increasing from 16 to 17.
Shares of Childrens Place last traded at $71.02, down 0.04 percent in early Wednesday trade.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in