Jefferies analyst Corey Tarlowe lowered the firm's price target on Burlington Stores to $365 from $370 and keeps a Buy rating on the shares following "nice" Q1 results. The firm noted Burlington's quarter reinforced confidence in structural margin expansion and off-price momentum. Jefferies cited lower multiple for the decreased price target. The firm told investors that freight and fuel remain a headwind, with modest pressure through the balance of the year as fuel costs remain elevated.
