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Fly News Breaks for March 12, 2018
Mar 12, 2018 | 09:23 EDT
MKM Partners analyst Roxanne Meyer raised her price target on Burlington Stores to $150 and kept her Buy rating after the company's Q4 results, saying its ability to drive "strong comps" led by non-weather impacted categories was "impressive". Meyer expects the company to continue gaining share in home, beauty and women's segments amid ongoing comps momentum. The analyst also sees the possibility for incremental sales gains from performance of its new stores and operational improvement in its existing store portfolio, along with the potential for lower markdowns and fixed cost leverage.
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