UBS upgraded Burlington Stores to Neutral from Sell with a price target of $212, up from $126. The analyst believes off-price retailers like Burlington will take more share from department stores than previously thought. Meanwhile the company’s macro risks have lessened and it has more EBIT margin expansion potential than previously modeled, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BURL:
- Bigger Refunds, Busier Stores: How Tax Season Could Boost Retail Stocks
- Burlington Stores Announces Executive Retirement and Succession
- Burlington Stores price target raised to $250 from $225 at Telsey Advisory
- Burlington Stores price target raised to $233 from $222 at Morgan Stanley
- Burlington Stores price target raised to $270 from $230 at Loop Capital
