Loop Capital raised the firm’s price target on Burlington Stores to $270 from $230 and keeps a Buy rating on the shares after its Q4 earnings beat. The company has momentum from top- and bottom-line upside in the quarter, and the management’s growth goal of 100 net new stores in FY24 is 10 stores ahead of the firm’s estimates, the analyst tells investors in a research note. Burlington is clearly looking to maximize sales, carrying ample inventory into early Spring based on Loop’s store checks, the firm added.
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