Analysts Just Decreased Price Targets of These 5 Stocks

4. Burlington Stores, Inc. (NYSE:BURL)

Number of Hedge Fund Holders: 38

Burlington Stores, Inc. (NYSE:BURL) received a price-target cut from Cowen & Co. on Wednesday, June 22, 2022. The research firm trimmed its price target for Burlington Stores, Inc. (NYSE:BURL) from $209 per share to $175 per share, citing the worsening economic condition of low-income customers amid rising inflation.

Low-income households are cutting back on non-essentials due to record inflation. The spending cuts have been hurting the sales growth of leading off-price retailers, including Burlington Stores, Inc. (NYSE:BURL). Cowen also downgraded Burlington Stores, Inc. (NYSE:BURL) from “Outperform” to “Market Perform.”