UPDATE: Credit Suisse Initiates Coverage On Burlington Stores Inc

Analysts at Credit Suisse initiated coverage on Burlington Stores Inc (NYSE: BURL) with a Neutral rating and $36 price target.

Michael Exstein finds that Burlington’s "key differentiators from much larger revenue peers TJX and ROST are its "heritage" categories of merchandise (outerwear, baby, and tailored men's), with a deeper and broader product assortment driven by larger box sizes."

Burlington has also delivered three consecutive years of positive same-stores sales growth. Exstein finds, "Investments in IT and supply chain, and efforts to improve the quality and freshness of inventory are likely to help BURL improve operating margins, increase cash flow, and deliver the balance sheet."

Shares of Burlington Inc recently traded at $39.09, down 0.64 percent.