Citi lowered the firm’s price target on Burlington Stores to $220 from $234 and keeps a Buy rating on the shares. The company’s sales results were “underwhelming” in Q2, although gross margin was ahead of plan, the analyst tells investors in a research note. Even though August seems to be starting out better versus last year, Burlington’s Q4 comp guidance of flat to down 2% is disappointing, adds the firm.
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