Burlington Stores Inc. (NYSE: BURL) Price Target Increased at BMO Capital Markets

Analysts at BMO Capital Markets raised the price target of Burlington Stores Inc. (NYSE: BURL) shares from $69.00 to $96.00 in a research note to investors today and reiterated a rating of Outperform on the stock.

The much anticipated comments from Federal Reserve Chairwoman Janet Yellen came on Friday.

Yellen said the case for another interest-rate hike is strengthening, sending a strong signal the U.S. central bank is preparing to increase rates as soon as next month.

The market responded first positively and then pivoted back to losses across all three major indices.

The Dow Jones Industrial Average fell 53 points, or 0.29 percent, to 18,395.

The S&P 500 fell around 3 points, or 0.16 percent, to 2,169.

The Nasdaq climbed 7 points, or 0.13 percent, to end the week at 5,219.

NYMEX crude oil futures fell 0.02 percent to $47.32 while Brent contracts added 0.06 percent to $49.70.

Natural gas futures climbed 0.35 percent on the session and finished the week at $2.86.Precious metals were mixed on Friday.

COMEX gold futures were basically unchanged at $1,324.50.

Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Shares of Burlington Stores Inc. (NYSE: BURL) opened at $81.33 and traded in a range between, $80.64 and $82.24 yesterday, and last traded at $81.46, which represents a change of $ 0.51 over the previous closing price.

Burlington Stores Inc. (NYSE: BURL) currently has a market cap of 5.86B

The stock’s average daily volume is 1,298,570 shares out of a total float 70,647,000 of and some 1,304,112 shares traded hands ysterday.

Investors will now, obviously, continue to look for increases in trading volume.

This is an excellent indicator of heavy volume accumulation from institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re researching.

By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.

With that in mind Burlington Stores Inc. (NYSE: BURL) now has a 50-day MA is $74.93 and 200-day MA is $62.01, and it has traded in a 52-week range between $39.40 – 83.41

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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