As previously reported, UBS analyst Jay Sole downgraded Burlington Stores to Sell from Neutral with a price target of $120, down from $209. The firm has become "increasingly bearish" on softlines stocks and reduced its calendar 2023 EPS estimates across its coverage by 10%, on average. Its 2023 EPS estimates are now 13% below consensus for the average stock in its coverage in the space, the firm noted.
Published first on TheFly
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