On Nov 28, major Wall Street analysts update their ratings for $Burlington Stores (BURL.US)$, with price targets ranging from $305 to $345.
Morgan Stanley analyst Alexandra Straton maintains with a buy rating, and maintains the target price at $305.
Evercore analyst Michael Binetti maintains with a buy rating, and adjusts the target price from $315 to $340.
TD Cowen analyst John Kernan maintains with a buy rating, and maintains the target price at $334.
Loop Capital analyst Laura Champine maintains with a buy rating, and maintains the target price at $345.
Telsey Advisory analyst Dana Telsey maintains with a buy rating, and adjusts the target price from $310 to $320.
Furthermore, according to the comprehensive report, the opinions of $Burlington Stores (BURL.US)$'s main analysts recently are as follows:
Warm weather and hurricanes adversely affected Q3 comparatives, yet analysts anticipate an 8% sales growth in FY24, propelled by a 2.5% comparative sales increase and significant gains from productive new stores. It is also noted that there are considerable opportunities for outsized sales and margin recovery at Burlington Stores.
Third quarter top-line and comparable results at Burlington Stores were influenced by temporary weather-related challenges. Despite these obstacles, the company demonstrated margin resilience and expansion, indicating steady progress in its BURL 2.0 strategy. This period is perceived positively upon a thorough analysis. The narrative of a compelling rate of change and the potential for near-term positive earnings revisions underpins Burlington's strong value positioning. This situates the company advantageously as it enters a competitive fourth quarter retail environment.
Burlington Stores' Q3 results were impacted by weather conditions, yet the underlying business strength was maintained. Margins surpassed expectations and are anticipated to remain a source of positive developments. The company is well-prepared for the holiday season and is expected to exceed Q4 guidance.
Burlington Stores' third-quarter earnings aligned with consensus expectations, but the company's comparable store sales increase of 1.0% did not meet expectations. Additionally, while Burlington has raised the lower end of its prior earnings guidance for fiscal 2024, it now anticipates comparable store sales to be at the lower end of prior projections.
Despite significant exposure to weather-related fluctuations, Burlington has adhered to its same-store sales guidance and effectively managed its profit and loss account. This occurred alongside what was considered one of the most significant intra-quarter peak-to-trough same-store sales decelerations that off-price retailers have experienced in recent years. Despite a somewhat harsher weather impact than anticipated in the third quarter, the long-term narrative remains unchanged. The analyst indicates that quarterly comps, adversely affected by severe weather conditions, should not be seen as a definitive gauge of ongoing advancements in maintaining competitive off-price comps alongside strong margin performance.
Here are the latest investment ratings and price targets for $Burlington Stores (BURL.US)$ from 5 analysts:
Note:
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