Goldman Sachs Upgrades Burlington Stores (BURL) to Buy

Goldman Sachs upgraded Burlington Stores (NYSE: BURL) from Neutral to Buy with a price target of $37.00 (from $33.00).

Analyst Stephen Grambling said, "The bottom line is that BURL is undergoing an underappreciated strategic transformation that is still in its early stages. While the company has outperformed peers over the past five quarters, we expect additional brand introductions, refined inventory management and cost control will support continued improvements in sales productivity, margins and ROIC. At the same time, BURL will de lever the balance sheet, amplifying EPS growth. Most importantly, this positive outlook is not being factored into valuation as BURL trades at a discount to off-price peers."

For an analyst ratings summary and ratings history on Burlington Stores click here. For more ratings news on Burlington Stores click here.

Shares of Burlington Stores closed at $31.60 yesterday.

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