Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks

05. Burlington Stores, Inc. (NYSE:BURL)

Price Reaction after the Price Target Cut: -2.42(-1.24%)

On May 20, TD Cowen analyst John Kernan opted to uphold his stance on Burlington Stores, Inc. (NYSE:BURL), maintaining a Hold rating on the stock. However, he adjusted the price target downward from $230 to $209. Following this revision, Burlington Stores experienced a price drop of 1.24%. Burlington Stores, Inc. (NYSE:BURL) operates in the retail industry. Kernan’s decision reflects his assessment of the Burlington Stores, Inc. (NYSE:BURL) performance and potential, aligning with his updated projections and analysis of market dynamics.

ClearBridge SMID Cap Growth Strategy stated the following regarding Burlington Stores, Inc. (NYSE:BURL) in its fourth quarter 2023 investor letter:

“Interest rate relief also had a strong impact on more cyclical companies and those with ties to general consumer spending. For example, consumer discretionary holdings and discount retailers Burlington Stores, Inc. (NYSE:BURL) and Five Below both rose during the quarter thanks to improving outlooks. Five Below, a specialty value retailer for products including apparel, accessories, novelty items, décor, cosmetics and accent furniture, rebounded from being one of the third quarter’s worst-performing stocks. We believe both Five Below and Burlington are particularly well-positioned for an economic environment where consumer budgets are being tightened but demand for discretionary goods remains stable.”