TD Cowen raises Burlington Stores' PT on margin benefits

Burlington Stores

12/12/2024 12:20

** 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;))