Evercore ISI raised the firm’s price target on Burlington Stores to $274 from $250 and keeps an Outperform rating on the shares. While stating that Burlington’s 10.5% year-over-year revenue growth was “encouraging,” the firm adds that the margin profile was “far more impressive.” Burlington has re-contracted key elements of the supply chain at both lower costs and with partners who are helping the company significantly speed up its operations, which should drive both top line and margin expansion above guidance, the analyst tells investors in a post-earnings note.
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