Burlington Stores (BURL) PT Raised to $430 at UBS, to Benefit From Value Offering

UBS analyst Jay Sole raised the price target on Burlington Stores (NYSE: BURL) to $430.00 (from $390.00) while maintaining a Buy rating.

The analyst commented, "We see 45% upside to our Price Target. We see Off-Price retailers like BURL as secular outperformers as they offer better value to consumers than their rivals do. This likely leads to market share gains versus struggling channels such as Department Stores. We model a ~19% 5-year EPS CAGR (FY24-FY29E) and believe the stock should trade at ~30x our $14.30 FY27 EPS estimate. We think BURL will outperform over the NTM, as EPS beats drive upwards revisions to sell-side consensus EPS estimates and keeps sentiment improving. BURL's 2Q earnings report increases our conviction in this view and we have raised our Price Target 10% to $430."

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