BURL - Burlington Stores: Long-Term Shareholders Likely To Benefit From Upside Potential
2024-03-26 22:00:11 ET
Summary
- Burlington Stores is recommended as a buy with a strong outlook for meeting its 5-year growth target.
- The company's 4Q23 performance exceeded expectations, with retail sales and gross margin improving.
- Management guidance for FY24 appears conservative, with potential for upside in comparable sales and EBIT margin.
Investment action
I recommended a buy rating for Burlington Stores ( BURL ) when I wrote about it the last time , as I was confident that BURL would be able to achieve its 5-year target based on how comparable store sales and net store growth performed. Based on my current outlook and analysis, I reiterate a buy rating. My confidence level in BURL's ability to meet its 5-year target has gone up after looking at the 4Q23 performance....
Burlington Stores: Long-Term Shareholders Likely To Benefit From Upside Potential