Burlington Stores, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Paul Lejuez from Citi maintained a Buy rating on the stock and has a $340.00 price target.
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Paul Lejuez has given his Buy rating due to a combination of factors, including expectations of Burlington Stores’ second-quarter earnings per share (EPS) surpassing consensus estimates. He anticipates an EPS of $1.34, which is higher than the consensus of $1.28 and the company’s guidance range of $1.20 to $1.30. Additionally, while the company’s comparable store sales are expected to be slightly below consensus, Lejuez models a gross margin that is slightly above expectations.
Despite a slight deceleration in store traffic, Lejuez believes that management will likely maintain their annual EPS guidance, reflecting a cautious outlook for the second half of the year. Investor sentiment has become more positive, with expectations of a comparable sales beat, which supports the Buy rating. Furthermore, the anticipated share price return of 25.3% adds to the attractiveness of the stock, reinforcing the Buy recommendation.
According to TipRanks, Lejuez is a 5-star analyst with an average return of 10.4% and a 58.64% success rate. Lejuez covers the Consumer Cyclical sector, focusing on stocks such as Deckers Outdoor, Dick’s Sporting Goods, and Urban Outfitters.
In another report released on August 7, Morgan Stanley also maintained a Buy rating on the stock with a $309.00 price target.