Morgan Stanley Provides Color on Children's Place Retail Stores, Equal-Weight

Morgan Stanley provided color on Children's Place Retail Stores PLCE. In a research report published today, Morgan Stanley stressed it believes Children's Place's shares will grow at a faster pace compared to the industry average. In the report, Morgan Stanley states, "We believe the share price will rise relative to the industry over the next 30 days. This is because the stock has traded off recently, making short term valuation much more compelling. We see the recent pullback as an opportunity to step in ahead of PLCE's Analyst Day on June 7th. We think CEO Jane Elfers is a top-in-class CEO. Her upcoming investor events including Morgan Stanley's Retail Conference on May 25, a dinner she's hosting the night before and PLCE's Analyst Day on June 7 will likely inspire investor confidence, boosting the shares from current levels. We estimate that there is about a 60% to 70% or "likely" probability for the scenario." At the moment, Morgan Stanley has an Equal-weight rating on Children's Place. On Friday, Children's Place closed the week at $50.58.