PLCE - The Children's Place tipped to see huge earnings beat

Monness Crespi & Hardt upgrades The Children's Place (PLCE) to a Buy rating after having it set at Neutral.Analyst Jim Chartier:" The reopening economy and government stimulus has driven strong consumer demand across all categories in March and April with many retailers reporting sales above March/April 2019 levels. Given much better than expected consumer spending and conservative guidance, we are raising our 1Q EPS estimate more than $1 above consensus and see the potential for more upside."The firm also thinks the backdrop for the rest of this year has improved with most schools planning to fully reopen in the fall and the March stimulus bill providing monthly payments to families with children beginning in July. Pent-up demand, government stimulus, lean inventory levels and limited promotional activity are also seen as supportive of PLCE earning more than $6 per share this year.Moness assigns a price target of $93 to Children's Place.The Children's

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The Children's Place tipped to see huge earnings beat