Loop Capital lowered the firm’s price target on Burlington Stores (BURL) to $305 from $315 but keeps a Buy rating on the shares. The company reported better than expected Q1 results, but the firm is cutting its sales estimates slightly on macro uncertainty, the analyst tells investors in a research note. Longer term, its overall positive thesis on Burlington is based on the likelihood that off-price’s market share gains will accelerate on department store closures and decreasing relevancy, Loop added.
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