Burlington Stores price target lowered to $267 from $269 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Burlington Stores (BURL) to $267 from $269 and keeps an Overweight rating on the shares. A Q1 beat and maintained fiscal year guidance were “a positive result against fears of a withdrawal/cut, but Q2-to-date comp commentary and a cautious management tone pressured the stock, notes the analyst. While the firm continues to expect positive next twelve month EPS revisions, it is “slightly less constructive” on the topline than it was prior to the Q1 report, the analyst added.