Evercore ISI lowered the firm’s price target on Burlington Stores (BURL) to $310 from $345 and keeps an Outperform rating on the shares. Burlington reported a “solid” Q1 and showed confidence by maintaining its FY25 guidance, but the stock is down because same-store sales in Q2-to-date haven’t accelerated like was seen at peers like TJX (TJX), Ross Stores (ROST) and Macy’s (M), the analyst tells investors. The firm is maintaining its above consensus FY25 EPS forecast at $9.65, but trimming its target P/E slightly on incremental risks to the year, adding: “To be clear, we still think BURL has the most attractive algorithm in our retailer coverage.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BURL:
- Burlington Stores price target lowered to $300 from $325 at Jefferies
- Morning Movers: Stocks jump as court blocks tariffs, Nvidia strong again
- Burlington Stores: Strong Earnings and Strategic Positioning Justify Buy Rating Despite Short-Term Challenges
- Burlington Stores CEO says ‘environment has become more uncertain since March’
- Burlington Stores reports Q1 adjusted EPS $1.67, consensus $1.43