Burlington Stores upgraded to Buy at UBS on expected outperformance

As previously reported, UBS analyst Jay Sole upgraded Burlington Stores (BURL) to Buy from Neutral with a price target of $360, up from $280. Citing a solid consumer spending environment, major market share gains from department stores, and Burlington’s self-help initiatives, the firm thinks the stock will outperform over the next twelve months as EPS beats drive upwards revisions to sell-side consensus EPS estimates and “keeps sentiment bullish,” the analyst tells investors.