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Burlington Stores Shares Pop After MKM Calls Them a Buy

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By Sam Boughedda

Investing.com — MKM Partners provided a bullish view on Burlington Stores Inc (NYSE:BURL) shares following its third-quarter earnings report.

Burlington shares rose 10% on Tuesday after it reported top and bottom-line growth.

CEO Michael O'Sullivan told investors ""clearly we are taking market share" after the company's total sales rose 30% for the quarter.

According to TheFly, MKM Partners analyst Roxanne Meyer shared O'Sullivan's positive sentiment, stating that investors should buy Burlington shares on any weakness as its results were meaningfully ahead of the Street's consensus.

Meyer said that the company's growth was fueled by its execution and anticipation of demand heading into back-to-school.

The analyst kept the firm's current buy rating and $360 price target on the shares.

Earlier in the day, Loop capital analyst Laura Champine downgraded Burlington shares to hold from buy, lowering her price target to $285 from $410.

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