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Fly News Breaks for March 7, 2019
BURL
Mar 7, 2019 | 16:44 EDT
DA Davidson analyst John Morris views today's post-earnings selloff in shares of Burlington Stores as a buying opportunity. Missteps in women's and cold-weather categories during Q4, coupled with a choppy start to Q1, has investors questioning management's 2019 guidance for a comp and earnings recovery to near consensus levels, Morris tells investors in a research note. The analyst, however, remains a believer in Burlington management and the secular advantages for the off-price sector. He keeps a Buy rating on the shares with a $193 price target. The stock closed the trading day down 12%, or $19.90, to $147.28.
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