Morgan Stanley raised the firm’s price target on Burlington Stores (BURL) to $305 from $285 and keeps an Overweight rating on the shares. Q3 topline and comp results were impacted by well-understood and transitory weather-related headwinds, but margin resilience and expansion in the quarter “speaks to ongoing BURL 2.0 strategy progress” and the quarter was “solid-when-unpacked,” the analyst tells investors. The firm cites a “compelling rate of change story,” potential for positive near-term EPS revisions and what it views as Burlington’s “advantaged value positioning” heading into a competitive Q4 retail backdrop for its Overweight rating.
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Read More on BURL:
- Burlington Stores price target raised to $330 from $315 at Baird
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
