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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BURL:
- Burlington Stores: A Promising Medium-Term Investment with 25% EPS Growth Potential Through 2028
- Burlington Stores: A Resilient Growth Opportunity Amidst Retail Challenges
- Burlington Stores price target lowered to $325 from $335 at Baird
- Burlington Stores price target lowered to $365 from $380 at Bernstein
- Burlington Stores: Buy Rating Affirmed Amid Growth Potential and Margin Expansion Opportunities
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue