Wells Fargo analyst Ike Boruchow raised the firm’s price target on Burlington Stores to $325 from $300 and keeps an Overweight rating on the shares. The firm cited the “relative security of the off-price business model,” as well as Burlington’s recent improvement in comp trajectory, what the firm sees as “sustainable 15%-20% bottom-line growth” and a “long-term opportunity to improve productivity/margins given supply chain and DC investments.”
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