Wells Fargo Maintains Overweight Rating for Burlington Stores: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Burlington Stores BURL and lower its price target from $275.00 to $250.00.

Shares of Burlington Stores are trading down 0.92% over the last 24 hours, at $159.08 per share.

A move to $250.00 would account for a 57.15% increase from the current share price.

About Burlington Stores

The third-largest American dedicated off-price apparel and home fashion retail firm, with 927 stores as of the end of fiscal 2022, Burlington Stores offers an assortment of products from over 5,000 brands through an everyday-low-price approach that undercuts conventional retailers' regular prices by up to 60%. The company focuses on providing a treasure-hunt experience, with a quickly changing array of merchandise in a relatively low-frills shopping environment. In fiscal 2022, 24% of sales came from accessories and footwear, 22% from women's ready-to-wear apparel, 21% from home décor, 17% from menswear, 12% from youth apparel and baby, and 4% from outerwear. All sales come from the United States.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.