Burlington Stores (BURL) PT Raised to $345 at Evercore ISI

Evercore ISI analyst Michael Binetti raised the price target on Burlington Stores (NYSE: BURL) to $345.00 (from $335.00) while maintaining a Outperform rating.

The analyst comments "Bottom Line: BURL posted a strong 4Q beat with comps accelerating to +6% (vs +4% in 3Q ex-weather) and EBIT margins +50bp above guidance/Street. 1Q guide for flattish SSS (-1% to +1%) stifles the bear case that low income/paused Latin consumer exposure and weather would translate to a 1Q comp guide as low as -3%. Importantly, if ROST left one debate open, it was whether it can get to its 1Q SSS guidance with QTD currently trending below the -3% to flat range. We see less debate for BURL. We think BURL is within the -1% to +1% range for 1Q to date in totality, and doesn’t need an acceleration from the trend in the last 2 weeks to get to its guidance (even with slightly tougher compares ahead for rest of the quarter). BURL’s guidance leaves room for SSS & EPS upside—similar to prior years. And the 2025 guide even seems to imply an even stronger underlying algo after 1Q than what BURL was baking in on the 3Q call when it gave its preliminary 2025 guidance (see below). Reiterate BURL as a Top 5 Outperform call."

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