Burlington Stores (BURL) fiscal Q1 above-expectations results and reiteration of full-year guidance against fears of an outlook withdrawal or cut is viewed as positive, Morgan Stanley said Friday in a research note.
The department store retailer's strengths include its improved positioning against competitors and ability to reduce margin gap with peers, the brokerage said. Also, its "unique margin recapture" opportunity remains attractive to the brokerage.
Morgan Stanley said it expects to see positive 12-month EPS changes, which could be slightly lower on topline than previously expected.
Morgan Stanley maintained an overweight rating on the stock taking into account the potential for long-term growth and/or margin expansion expectations. The bank lowered the price target on the stock to $267 from $269.
Price: 226.38, Change: -1.42, Percent Change: -0.62
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