BUZZ-TD Cowen raises Burlington Stores' PT on margin benefits

Reuters
2024-12-12
BUZZ-TD Cowen raises Burlington Stores' PT on margin benefits

** Brokerage TD Cowen raises off-price retailer Burlington Stores' BURL.N PT to $339 from $334, maintains "buy" rating

** Company's margins to benefit from opportunities in merchandising, enhanced store productivity, supply chain, automation and warehousing, says brokerage

** Burlington's focus on value will resonate in 2025 with low- and mid-income consumers - brokerage

** Quality of BURL's inventory buying, new store prototype and improved in-store execution is notable, says TD Cowen

** Gradual improvements in productivity closer to off-price leaders TJX TJX.N and Ross Stores ROST.O as well as debt pay-down can generate accelerating free cash flow - brokerage

** Nineteen of 22 brokerages rate the stock "buy" or "higher" and three "hold"; median PT is $332 - LSEG data

** Up to last close, stock up nearly 52% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com;))

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