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Fly News Breaks for January 4, 2019
BURL
Jan 4, 2019 | 08:54 EDT
Wedbush analyst Jen Redding maintained a Neutral rating on Burlington Stores and cut her price target to $155 after updating her financial model per mid-Q4 proprietary Campaign Data, which forecasts a current gross margin run rate of 42.17% vs. the 42.35% consensus. Redding tells investors in a research note that while she views shares of U.S.-focused retailers like Burlington as good options in a year of a strong dollar, she sees shares as near fair-price in the near-term absent any new fundamental and/or catalyst.
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