Burlington Stores, the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Alexandra Straton from Morgan Stanley maintained a Buy rating on the stock and has a $328.00 price target.
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Alexandra Straton’s rating is based on Burlington Stores’ strong performance in the second quarter, which surpassed that of its peers. This outperformance, along with an increase in full-year guidance, supports a positive outlook for the company’s earnings per share in the near term. Additionally, there is an opportunity for Burlington to continue expanding its margins beyond what is currently expected by the market, suggesting further earnings growth in the future.
Straton is also confident in Burlington’s ability to capture market share from other off-price retailers, as evidenced by a comprehensive analysis of industry trends and company strategies. Despite the stock’s high valuation, these factors contribute to a positive long-term growth trajectory, justifying the Buy rating. The price target has been raised to $328, reflecting these optimistic projections.
In another report released today, Barclays also maintained a Buy rating on the stock with a $336.00 price target.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BURL in relation to earlier this year.