Mizuho Securities Reiterates Buy on Children's Place (PLCE) Following Strong Holiday

Mizuho Securities reiterated a Buy rating on The Children's Place (NASDAQ: PLCE), and raised the price target to $110.00 (from $105.00), following the company's strong Holiday season. PLCE reported Holiday comps of +6.9% vs. +7.3% LY, above 4Q comp expectations of +1% and the Street's +2%.

Analyst Betty Chen commented, "We are reiterating our Buy rating and raising our PT to $110 (from $105) following a strong Holiday beat driven by solid product and operational execution. Despite a challenging environment, PLCE demonstrated meaningful sales acceleration that reflects market share gains within the children’s apparel market. Additionally, we believe enhanced systems and analytics continue to improve inventory productivity and margins with additional opportunity in 2017 & beyond. With ongoing fleet optimization, wholesale penetration, and Int’l expansion, we continue to believe PLCE is in the early stages of a multi-year transformation to reach +DD EBIT margin."

For an analyst ratings summary and ratings history on The Children's Place click here. For more ratings news on The Children's Place click here.

Shares of The Children's Place closed at $104.05 yesterday.

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