What happened Shares of The Children's Place (NASDAQ: PLCE) are soaring 12% in morning trading Monday after the two Wall Street firms upgraded the childrens apparel retailer ahead of its earnings report later this week. So what Monness Crespi Hardt analyst Jim Chartier upgraded the retailer from neutral to buy and set a $93-PER-SHARE price target on the stock, some 20% above Children's Place's closing price last Friday. Chartier contends management's conservative guidance in combination with the economy reopening and the government stimulus checks is going to lead to blowout earnings. Image source: Getty Images. March and April consumer spending is well above the levels set two years ago before the coronavirus pandemic. "Given much better than expected consumer spending and conservative guidance, we are raising our 1Q EPS estimate more than $1 above consensus and see the potential for more upside," Chartier said. Wedbush analyst Jen Redding also upgraded Children's Place to an outperform rating from neutral for similarly bullish reasons, but she sees the potential for the apparel retailer to nearly double in value. She set a price target of $150 per share. Now what While the retail sector enjoyed a decided boost from the government-issued stimulus, perhaps all that was needed was a reopening of business. It's possible the stimulus checks just artificially inflated demand and likely pulled forward sales, setting the stage for disappointment for future quarters for the apparel retailer. 10 stocks we like better than The Children's PlaceWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and The Children's Place wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of May 11, 2021 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source