Morgan Stanley Reiterates Overweight, Raises PT On Burlington Stores on 2015 Outlook

In a report published Wednesday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating on Burlington Stores Inc. (NYSE: BURL), and raised the price target from $50.00 to $60.00.

In the report, Morgan Stanley noted, "BURL posted another impressive print, delivering a 6.7% comp, 50 bps GM expansion and an 11c EPS beat. We see conservatism embedded in '15 guidance and expect upward earnings revisions through the year. We raise our PT to $60 and see high probability our $70 Bull case plays out. Reiterate O/W."

Burlington Stores closed on Tuesday at $58.59.