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Fly News Breaks for December 12, 2019
PLCE
Dec 12, 2019 | 06:35 EDT
BofA/Merrill analyst David Buckley downgraded Children's Place to Underperform from Neutral with a $45 price target. The analyst is concerned that the retailer's path to operating margin recovery "will be more challenging than previously expected." Industry competition remains intense, says Buckley, who notes Children's Place provided "disappointing" guidance. The analyst reduced his fiscal 2020 margin estimates on a lack of visibility and believes consensus estimates for the year "remain unrealistic."
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