Why You Should Be Watching Burlington Stores (BURL) + So Much More

Still in a holiday weekend haze? Here’s a refresher on the biggest movers and shakers from last week, plus 3 Strong Buy stocks to watch in the coming week. Reporting courtesy our own Jessie Moore and Dan Simms.

🔥 HOT: One of last week’s big winners was VOXX International Corporation (NASDAQ: VOXX). The company gained 88.7% after it announced that it was considering selling the company. It’s unclear whether VOXX’s board is considering a full sale or a partial sale, but it’s clear that investors are enthusiastic about the idea. VOXX has lost 48.3% YTD.

🥶 NOT: Dollar General (NYSE: DG) lost 32.3% last week, with the bulk of the losses coming after the company’s lackluster earnings report. Analysts at Gordon Haskett downgraded the company to hold from buy as the dollar store continues to struggle with declining sales. DG is down 38.6% YTD.

🔥 HOT: Neonode (NASDAQ: NEON) gained 47.7% last week as it continues to ride the bull trend that started when its lawsuit against Samsung was revived by the U.S. Court of Appeals. Over the last two weeks, NEON went from trading flat on the year to being up an impressive 212.5% so far in 2024.

🥶 NOT: It’s been a wild ride for Super Micro Computer (NASDAQ: SMCI) this year. Last week, the company lost 28.6%, falling to “just” +50.2% on the year. That might sound like a great year, but it becomes less impressive when you consider that SMCI was up as much as 320% at the start of March. The company’s ties to cryptocurrency and Bitcoin have caused its volatility to be much higher than you would otherwise expect. 

📈 Want more? Check out the biggest winners and biggest losers on WSZ.

Strong Buys: Top Picks from Top Wall Street Analysts 

Don’t settle for subpar stock picks. With WallStreetZen's Top Analysts, you get high-conviction stock ratings from the best stock analysts in the world. It’s a premium feature on our site, but we’ve unlocked a FREE sampling below: 

1- Marvell Technology Inc. (NASDAQ: MRVL)

Analyst/Firm: Vivek Arya / Bank of America

Analyst ranking: Top 1% / average return +19.97% / win rate 60% 

Last market close: $76.24

Price target: $90.00 

• Maintaining a Strong Buy rating, Bank of America's Vivek Arya raised their price target on Marvell Technology (NASDAQ: MRVL) by 5.9% from $85 to $90 on 8/30.
• In an assessment of Marvell Technology's 8/29-dated Q2 2025 print (explore MRVL earnings here) Arya said the company continues to reap significant benefits from the continuous expansion of AI data centers around the world. 
• However, the analyst cautioned investors about gross margin dilution, citing the expanding custom silicon mix.
• Nonetheless, Arya predicted that the company's non-AI businesses would eventually rebound and help offset some of the impact in FY 2025 and 2026.

1-year chart for MRVL, courtesy TradingView

2 - Burlington Stores Inc. (NYSE: BURL) 

Analyst/Firm: Adrienne Yih / Barclays

Analyst ranking: 3% / 11.46% / win rate 57% 

Last market close: $268.24

Price target: $327.00 

• Maintaining a Strong Buy rating, Barclays's Adrienne Yih raised their price target on Burlington Stores (NYSE: BURL) by 19.3% from $274 to $327 on 8/30.  
• Burlington Stores delivered "beats across the board," Yih summed up following an assessment of the company's 8/29-dated Q2 2024 print. (Explore BURL earnings here.)
• In spite of freight and calendar headwinds, the analyst argued that management's 2H 2024 guidance is cautious given the "rate of acceleration."
• 10 more analysts we track call BURL a Strong Buy. See what they’re saying.

1-year chart for BURL, courtesy TradingView

3- Lululemon Athletica (NASDAQ: LULU)

Analyst/Firm: John Kernan / TD Cowen

Analyst ranking: Top 8% / average return +9.78% / win rate 65% 

Last market close: $259.47

Price target: $382.00 

• Maintaining a Strong Buy rating, TD Cowen's John Kernan raised their price target on Lululemon Athletica (NASDAQ: LULU) by 1.9% from $375 to $382 on 8/30, the day after the company’s Q2 2024 earnings.
• Kernan summarized the quarter with "revenue missed the consensus estimate, but EPS upside was driven by gross margin, with EBIT dollars +13% Y/Y."
• Broadly speaking, the analyst argued that "the results and management's tempered 2H 2024 guidance speak to the durability of Lululemon Athletica's financial model in the face of a slowdown in its U.S. business."

1-year chart for LULU, courtesy TradingView

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