Fly News Breaks for November 29, 2019
Nov 29, 2019 | 08:14 EDT
RBC Capital analyst Kate Fitzsimons raised her price target on Burlington Stores to $244 and kept her Outperform rating after its Q3 earnings beat and raised FY19 guidance. The analyst notes that while the initial outlook for FY21 under the new CEO O'Sullivan could land "conservatively", she believes that the guidance for lower rate of growth was "largely anticipated". Fitzsimons adds that the commentary of the new CEO's suggests that the company can make "meaningful progress in narrowing its productivity and margin gap to peers", citing its accelerating Q3 comps and expanding margins.
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