These Analysts Boost Their Forecasts On Burlington Stores After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Burlington Stores, Inc. (NYSE:BURL) reported better-than-expected Q4 financial results, with a 14% Y/Y revenue growth to $3.126 billion and a 25% Y/Y increase in adjusted EPS to $3.69. The company's guidance for FY24 includes an adjusted EPS of $7.00-$7.60 and sales growth of 9% to 11%. Following the report, Telsey Advisory Group, Barclays, and Baird raised their price targets on BURL. Burlington shares surged 7.5% to close at $221.26.
March 08, 2024 | 1:30 pm
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POSITIVE IMPACT
Burlington Stores reported strong Q4 results, surpassing revenue and EPS expectations, and provided an optimistic FY24 guidance. Analysts raised price targets, leading to a 7.5% stock price increase.
The positive earnings report and upward revision of price targets by analysts are strong indicators of investor confidence and potential for continued stock performance. The significant stock price increase on the day of the announcement reflects immediate market reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100