UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Burlington Stores Ahead of 2Q EPS Report

In a report published Thursday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating on

, and raised the price target from $35.00 to $37.00. In the report, Morgan Stanley noted, “BURL could deliver modest EPS upside, especially if margins outperform conservative guidance, but we don't expect a material move over earnings. Debt refinancing now appears fully priced in. The stock has substantially outperformed since an early 2014 pullback and remains our top small cap idea.” Burlington Stores closed on Wednesday at $36.32.