J.P. Morgan Raises The Children's Place Estimates

J.P. Morgan is raising its estimates on The Children's Place PLCE. “Our 2010 estimate of $2.87 is based on negative 1% comps and margins at 7.5%, down 70 bps. Our 2011 estimate of $3.25 assumes positive 1% comps and margins at 7.2%, down 30 bps, driven by gross margins,” J.P. Morgan writes. “We expect PLCE to be mostly finished with its $100 mm share buyback, and with over $6 in cash/share at the end of 3Q, we think another authorization is likely early next year.” The Children's Place closed Thursday at $52.21.