BMO Capital analyst Simeon Siegel maintains $Burlington Stores (BURL.US)$ with a buy rating, and adjusts the target price from $240 to $293.
According to TipRanks data, the analyst has a success rate of 56.5% and a total average return of 6.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Burlington Stores (BURL.US)$'s main analysts recently are as follows:
Warmer weather conditions and hurricanes impacted third-quarter comparatives, yet projections for an 8% sales growth in Fiscal Year 24 are driven by a 2.5% comparative sales increase and significant contributions from productive new stores. There's anticipation of substantial opportunities for sales and margin recovery at Burlington.
Third quarter top line and comparable store results were influenced by transient, weather-related factors. Nevertheless, the resilience and expansion in margins during this quarter demonstrate the ongoing progress in Burlington's BURL 2.0 strategy. When analyzed in depth, the quarter's performance was solid. The compelling change rate story, the potential for near-term positive earnings revisions, and Burlington's advantaged value positioning as it approaches a competitive fourth-quarter retail environment were noted by the analyst.
Burlington Stores' Q3 results were impacted by weather conditions, yet the underlying business continues to show strength. Margins have outperformed expectations and are anticipated to further contribute positively. The company appears well-prepared for the holiday season and is likely to surpass its Q4 expectations.
Note:
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