PLCE - Why The Children's Place Is Soaring 13% Higher Today
Shares of The Children's Place (NASDAQ: PLCE) are soaring 12% in morning trading Monday after the two Wall Street firms upgraded the childrens apparel retailer ahead of its earnings report later this week.
Monness Crespi Hardt analyst Jim Chartier upgraded the retailer from neutral to buy and set a $93-per-share price target on the stock, some 20% above Children's Place's closing price last Friday.
Chartier contends management's conservative guidance in combination with the economy reopening and the government stimulus checks is going to lead to blowout earnings.
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Why The Children's Place Is Soaring 13% Higher Today