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Fly News Breaks for December 19, 2019
ROST, BURL
Dec 19, 2019 | 09:36 EDT
DA Davidson analyst Laura Champine raised her price target on Ross Stores (ROST) to $130 from $125 and Burlington Stores to $250 from $240 while also maintaining a Buy rating on both names. The analyst contends that both retailers are showing a "strong" holiday assortment and expects better levered SG&A expenses from their management teams. Champine also sees higher gross margins and reduced markdowns at Ross Stores thanks to its "limited clearance inventory".
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