Barclays lowered the firm’s price target on Burlington Stores to $221 from $281 and keeps an Overweight rating on the shares. The firm’s promotional tracker shows promos in Q1 are running similar to Q4 levels and suggest that "consumers across all income brackets are pulling back" on discretionary product spending, the analyst tells investors. The firm also sees increasing risk to hopes for a demand recovery in the second half of the year.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BURL:
- Bed Bath closures an opportunity for Burlington, Ross and TJX, says BofA
- Burlington Stores call volume above normal and directionally bullish
- Burlington Stores put volume heavy and directionally bearish
- Burlington Stores upgraded to Buy at Loop Capital on improved value proposition
- Burlington Stores upgraded to Buy from Hold at Loop Capital