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Fly News Breaks for December 12, 2019
PLCE
Dec 12, 2019 | 08:10 EDT
DA Davidson analyst John Morris lowered his price target on Children's Place to $80 after its Q3 results and a cut in its FY19 guidance amid "heavy promotional pressure", which the management believes to be contained to Q4. The analyst still keeps his Buy rating and believes that the headwinds will turn into tailwinds in 2020 amid anniversarying of industry consolidation and as the fulfillment/personalization investments begin to wane. Morris further anticipates revenue contribution starting in the Spring from the re-launch of Gymboree.
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