$BURL

Goldman Sachs added Amazon, Burlington Stores, Huntington Ingalls, Johnson Controls, and Occidental Petroleum to its 'U.S. Conviction List — Director's Cut' for October, with price targets implying 40%-60% upside. Amazon was highlighted for AI-driven AWS demand, e-commerce profitability, and advertising growth. Huntington Ingalls was noted for its U.S. Navy shipbuilding focus, while Burlington was praised for store growth and cost efficiencies.

Goldman Sachs updated its Conviction List for October, adding five stocks and removing five. Amazon (AMZN) was added with a $375 target, a 51% upside. Other additions include Burlington Stores (BURL), Huntington Ingalls (HII), Johnson Controls (JCI), and another company. Removals include Air Products (APD), ConocoPhillips (COP), Golar LNG (GLNG), Loar (LOAR), and Tyson Foods (TSN).

Goldman Sachs added Amazon, Burlington Stores, Occidental Petroleum, Johnson Controls, and Huntington Ingalls to its Conviction List. The list includes 20-25 stocks and is updated monthly.

Goldman Sachs added Amazon, Burlington Stores, Huntington Ingalls, Johnson Controls, and Occidental Petroleum to its U.S. Conviction List. Analysts cited strong revenue growth, margin expansion, and strategic advantages in AI, e-commerce, and shipbuilding. The bank removed five other companies from the list.

Goldman Sachs added Amazon (AMZN), Burlington Stores (BURL), Huntington Ingalls (HII), Johnson Controls (JCI), and Occidental Petroleum (OXY) to its monthly Director’s Cut list, removing five others, including ConocoPhillips (COP). The list features 20-25 fundamental Buy-rated U.S. stocks. ConocoPhillips reported Q2 2026 earnings, beating EPS estimates but missing revenue forecasts. UBS raised its price target for COP to $153, maintaining a Buy rating.

Burlington Stores has leased 31,717 square feet at 25 Navy Street in Brooklyn Navy Yard, with occupancy planned for fall 2027. The deal, representing 10 years with renewal options, leaves 7,000 square feet still available. Steiner NYC, the developer, expressed excitement about the retailer's addition. Burlington has been active in expanding its footprint, recently taking over leases from Joann and opening new locations in Queens.

Burlington Stores (BURL) shares rose 4.5% to $266.23, recovering from a post-earnings sell-off. The company beat EPS estimates by 35% and raised full-year guidance, though revenue missed slightly. Analysts maintain high price targets ($370–$440) and a Buy rating, citing store expansion and pricing strategies. The rally contrasts with broader market declines.

Burlington Stores (BURL) reported fiscal Q2 2026 sales up 11% YoY to $3B, with beauty and accessories driving growth. Comparable-store sales rose 2%, led by higher average basket size. The company plans to open 115 net new stores and reinvest $55M in tariff refunds. BURL stock is down 3.8% over the past year, with a P/S ratio of 1.34. Analysts expect 10.8% sales and 29.6% EPS growth for FY2026.

US off-price retailers Burlington, Ross Stores, and TJX Companies reported strong sales and earnings growth in 2024 and 2025, driven by value-focused shoppers. Burlington's net sales rose 9% to $10.6B in 2024, with net income up to $503.6M. Ross Stores saw 2024 sales reach $21.1B, with net earnings of $2.1B. TJX reported $54.2B in 2024 net sales and $4.5B in net income.

Burlington Stores (BURL) is moving its headquarters from New Jersey to Philadelphia, citing economic incentives and a strategic location. The move follows a 15-year tax incentive agreement in New Jersey that is expiring. Pennsylvania offered $38 million in incentives. New Jersey business leaders express concern over the state's high corporate tax rate and competitive business climate.