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Fly News Breaks for June 22, 2018
BURL
Jun 22, 2018 | 07:05 EDT
Wedbush analyst Jen Redding initiated Burlington Stores with an Outperform rating and $175 price target, telling investors in a research note that she views Burlington as an "attractive" growth story. She sees continued upside to earnings driven by store growth, operating margin expansion and higher sales productivity, and notes that the company's business model is thriving. Redding contends that shares of U.S.-focused retailers like Burlington as "good options" in a year of a strong dollar, as bright U.S. prospects fuel domestic spending in discretionary, and shares attract overseas investors seeking high dollar-denominated returns.
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