Burlington Stores Inc "Strong Start to FY26; Raise PT and Reiterate Buy Rating"

研报英文原文证据摘录

Burlington Stores Inc "Strong Start to FY26; Raise PT and Reiterate Buy Rating"

Global Research

28 May 2026ab

Burlington Stores Inc Equities

AmericasStrong Start to FY26; Raise PT and Reiterate Buy

Rating Retailers, Broadline

12-month rating Buy *

12m price target US$435.00Our price target implies 45% upside from the current stock price:

Prior : US$430.00

Following BURL’s post-earnings 8% stock price pullback (vs. the S&P 500's +1% move),

despite a solid beat & raise report (link), we see an attractive entry point. BURL's 1Q Price (28 May 2026) US$300.52

report gives us increased conviction in the company’s "Burlington 2.0" strategy and in RIC: BURL.N BBG: BURL US

our 17% 5-year EPS CAGR forecast. The quarter reinforced BURL’s structural

advantages as an Off-Price retailer, as well as the ongoing benefits from its self-help Trading data and key metrics

initiatives. We believe the stock should trade at ~26x our $16.95 FY28 EPS estimate. We 52-wk range US$347.82-222.85

think BURL will outperform over the NTM, as EPS beats drive upwards revisions to sell- Market cap. US$19.3b

side consensus EPS estimates and boost sentiment. Our FY26 and FY27 EPS estimates Shares o/s 64.1m (COM)

are 4% and 7% above consensus, respectively. Free float 99%

Avg. daily volume ('000) 198

We believe BURL is positioned for outperformance in 2026: Avg. daily value (m) US$62.1

We believe Burlington will continue gaining share from Department Stores, supported Common s/h equity (01/27E) US$2.35b

by real estate portfolio improvements, sustained consumer demand for value, and a P/BV (01/27E) 8.7x

strong off-price supply backdrop. We also see a runway for margin expansion driven by Net debt to EBITDA (01/27E) 0.7x

improved merchandising, better inventory allocation, and ongoing supply chain