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Fly News Breaks for May 14, 2019
PLCE
May 14, 2019 | 09:26 EDT
DA Davidson analyst John Morris kept his Buy rating $135 price target on Children's Place ahead of its Q1 earnings, saying that while his channel checks suggest a better than expected Q1, the company's Q2 guidance may be conservatively cautious. The analyst anticipates Q1 comps to be "up negative high single digit" rate - better than the consensus for a decline of 11% - but sees the Children's Place Q2 EPS outlook of (34c) to 46c as indicative of the low visibility for the quarter. Morris is warning that there may be a "consumer hangover to all the liquidation sales" since last fall from Toys R Us and Gymboree, modeling Q2 EPS at (4c).
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