PLCE - The Children's Place backed by Telsey to see continued sales strength

Telsey Advisory Group sees momentum extending for The Children's Place (PLCE) after the retailer posted a strong Q1. Analyst Dana Telsey and team see an outsized back-to-school season with the return to in-person learning and the added boost for the retailer from child tax credits.Looking ahead, the firm keeps an Outperform rating in place on PLCE and increases its price target to $110 to factor in higher earnings estimates. During the earnings conference call yesterday, PLCE execs pointed to sales growth drivers that included strong product acceptance, higher-priced realization, reduced promotional activity and unprecedented stimulus as well as an acceleration in back-to-school sales. Read the Children's Place earnings call transcript.

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The Children's Place backed by Telsey to see continued sales strength