Burlington Stores price target lowered to $310 from $345 at Evercore ISI

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.”