Wells Fargo lowered the firm’s price target on Burlington Stores (BURL) to $315 from $330 and keeps an Overweight rating on the shares. The firm is a buyer into Q3. Wells is not concerned with the mid-Q3 comparable sales slowdown, as it believes Q1/Q3 are tricky quarters for Burlington’s seasonal assortment. The firm still expects comps at HE of plan in Q3 and are upbeat on their ability to accelerate trends into holiday.
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