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The Ratings Game: Burlington Stores could reach a $10 billion market cap despite recent sales stumble

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Burlington’s first-quarter sales missed, but Cowen analysts think it could reach a $10 billion market cap in the future.

Burlington Stores Inc. could reach a market cap of $10 billion in the coming years, according to Cowen & Company analysts, overshadowing the sales miss it reported in the most recent quarter.

Like fellow off-price retailer TJX Cos. TJX, +0.10% , parent to T.J. Maxx and other discount chains, Burlington’s BURL, +0.90% latest quarterly sales were below the FactSet consensus. Still, analysts are bullish about the off-price sector in the face of broader retail struggles.

Cowen analysts base their $10-billion projection on the company’s free cash flow.

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