Gordon Haskett upgraded Burlington Stores to Buy from Hold with a $300 price target as the firm is raising its Q2 comp growth estimate to 4.0% from 2.0% previously ahead of the company’s earnings print. The firm, which expects Burlington’s 2.0 Strategy to drive improved comps and margins in the years ahead, notes that quarter-to-date traffic through the first two weeks of Q3 has stayed strong and with a very favorable weather backdrop, particularly in October through December, it sees this momentum continuing to build.
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