Burlington Stores price target raised to $350 from $315 at BofA

BofA analyst Lorraine Hutchinson raised the firm’s price target on Burlington Stores (BURL) to $350 from $315 and keeps a Buy rating on the shares. Warm weather and hurricanes hurt Q3 comps, but the firm models FY24 sales growth of 8%, driven by a 2.5% comp and an outsized benefit from productive new stores, adding that it sees Burlington having “outsized sales and margin recovery opportunities.”