TD Cowen analyst John Kernan raised the firm’s price target on Burlington Stores to $257 from $209 and keeps a Hold rating on the shares. The firm said while the low income consumer is pressured, Burlington is standing out in terms of the value it is providing. Product sourcing costs and supply chain costs could produce upside to guidance and consensus EPS into FY25 particularly if comps improve beyond 2%.
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- Burlington Stores reports Q1 gross margin 43.5% vs. 42.3% last year
- Burlington Stores sees FY24 CapEx ~$750M
- Burlington Stores sees Q2 adjusted EPS 83c-93c, consensus 91c
- Burlington Stores raises FY24 adjusted EPS view to $7.35-$7.75 from $7.00-$7.60
- Burlington Stores reports Q1 adjusted EPS $1.42, consensus $1.04