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Burlington Stores Shares Pop After MKM Calls Them a Buy -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — MKM Partners offered a bullish outlook on Burlington Stores Inc. (NYSE:) shares after its third quarter earnings report.

Burlington’s shares rose 10% Tuesday, after the company reported both top- and bottom-line growth.

Following a quarter of 30% growth in sales for the company, Michael O’Sullivan, CEO, stated that investors are “clearly taking market share”.

Roxanne Meyer from MKM Partners shared O’Sullivan’s positivity according to TheFly. She stated that Burlington should be bought on weakness because its results are meaningfully better than the Street’s consensus. 

Meyer explained that Meyer was proud of the execution of back-to-school demand and how it fueled company growth. 

Analysts maintained the current firm buy rating of the shares and the $360 price target.

Laura Champine, Loop capital analyst, downgraded Burlington shares from buy to hold earlier in the day. Her price target was lowered to $285, from $410.

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