Childrens Place Gets Big Analyst Price Target Cut After Stock Crash
Childrens Place Inc (NASDAQ: PLCE ) received a downgrade and a massive price target cut from Wedbush despite reporting a third-quarter earnings beat on Wednesday. The Analyst and Rating Wedbush analyst Jen Redding downgraded Childrens Place from Outperform to Neutral and lowered her price target from $130 to $60. The Thesis Redding views Children’s Place as a strong value story, but low visibility into the company’s margin turnaround and an unfavorable mix between e-commerce and brick mortar stores is more troubling than initially anticipated. “We do not see the structural shift to digital slowing in the near-term, and without a strategy in place to raise the e-commerce margin contribution, we see the … Full story available on Benzinga.com
Childrens Place Gets Big Analyst Price Target Cut After Stock Crash
Childrens Place Inc (NASDAQ: PLCE ) received a downgrade and a massive price target cut from Wedbush despite reporting a third-quarter earnings beat on Wednesday. The Analyst and Rating Wedbush analyst Jen Redding downgraded Childrens Place from Outperform to Neutral and lowered her price target from $130 to $60. The Thesis Redding views Children’s Place as a strong value story, but low visibility into the company’s margin turnaround and an unfavorable mix between e-commerce and brick mortar stores is more troubling than initially anticipated. “We do not see the structural shift to digital slowing in the near-term, and without a strategy in place to raise the e-commerce margin contribution, we see the … Full story available on Benzinga.com