Children’s Place price target lowered to $12 from $24 at UBS

UBS analyst Jay Sole lowered the firm’s price target on Children’s Place to $12 from $24 and keeps a Neutral rating on the shares. New management is taking over a business that operates in a very difficult industry with many dominant competitors, such as Walmart, Target, and Amazon, the analyst tells investors in a research note. The firm says that even though management wants to take a long-term view, industry dynamics may not afford it the time it needs to put Children’s Place on a more sustainable path. Plus, management’s learning “curve could be steep since it doesn’t appear it has much experience in the apparel industry,” adds the firm. Overall, UBS sees a balanced upside/downside skew for the shares.