Burlington Stores price target lowered to $330 from $350 at Jefferies

Jefferies lowered the firm’s price target on Burlington Stores (BURL) to $330 from $350 and keeps a Buy rating on the shares. Comps lagged peers and management revised long-term targets, “dampening some enthusiasm,” but Burlington’s near-term trend is improving while margin expansion and new store growth remain “bright spots,” the analyst tells investors. While the firm continues to like Burlington, it prefers Ross Stores (ROST) as its top pick in the off-price retail space, the analyst added.