** Shares of apparel retailer Children's Place up 3.8% at $15.7
** UBS raises PT for PLCE stock to $18 from $12 and maintains "neutral" rating
** PLCE made surprising progress reducing expenses in Q2 - brokerage
** PLCE will continue to benefit from reduced reliance on third party logistics providers for online orders and lower marketing expenses, offset slightly by increased payroll expenses - UBS
** PLCE has fallen 31.7%, YTD
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))
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