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Fly News Breaks for May 6, 2019
ROST, BURL
May 6, 2019 | 09:31 EDT
Loop Capital analyst Laura Champine raised her price target on Burlington Stores (BURL) to $200 and kept her Buy, citing the appointment of Michael O'Sullivan as new CEO, whom she considers to be a "great fit". The analyst cites O'Sullivan's experience at Ross Stores (ROST), where he contributed to its ladies' apparel and home goods categories performance - areas where Burlington Stores "remains underpenetrated." Champine lowers her Q1 comps forecast to flat from 2% but also raises her long-term estimate to 2.5% from 2%.
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