Burlington Stores (BURL): Raising Estimates After Non Deal Roadshow - BMO
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BMO Capital analyst, John Morris, reiterated his Outperform rating on shares of Burlington Stores (NYSE: BURL) following a Non Deal Roadshow with BURL's CEO Tom Kingsbury, CFO Marc Katz, and Treasurer Robert LaPenta.
The analyst believes that BURL is positioned to have a strong 2H. Last year's retail climate afforded BURL the opportunity to go deeper into pack away and BURL is starting to utilize this favorable margin inventory to drive traffic.
EPS estimates increased for 3Q16 to $0.33 from $0.32, for 2016 to $2.99 from $2.98, and for 2017 to $3.50 from $3.44. No change to the price target of $96.
Shares of Burlington Stores closed at $83.57 yesterday.
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