Morgan Stanley Cuts Burberry Group (BRBY) Price Target to GBX 1,600

Burberry Group (LON:BRBY) had its target price dropped by investment analysts at Morgan Stanley from GBX 1,676 ($22.73) to GBX 1,600 ($21.70) in a research note issued on Thursday. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 1.30% from the company’s previous close.

BRBY has been the topic of several other reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 1,720 ($23.33) price objective on shares of Burberry Group in a research note on Monday, January 8th. raised their price objective on Burberry Group from GBX 1,580 ($21.43) to GBX 1,680 ($22.78) and gave the company a “reduce” rating in a research note on Monday, October 2nd. Deutsche Bank raised their price objective on Burberry Group from GBX 1,775 ($24.07) to GBX 1,800 ($24.41) and gave the company a “hold” rating in a research note on Thursday, October 12th. Barclays reiterated an “overweight” rating and issued a GBX 1,900 ($25.77) target price on shares of Burberry Group in a research report on Thursday, October 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a GBX 1,900 ($25.77) target price on shares of Burberry Group in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Burberry Group presently has an average rating of “Hold” and an average target price of GBX 1,694.29 ($22.98).

Burberry Group (BRBY) traded down GBX 39.50 ($0.54) during trading hours on Thursday, reaching GBX 1,579.50 ($21.42). The company had a trading volume of 2,261,311 shares, compared to its average volume of 1,380,000. The firm has a market capitalization of $6,690.00 and a price-to-earnings ratio of 2,256.43. Burberry Group has a fifty-two week low of GBX 1,543 ($20.92) and a fifty-two week high of GBX 2,024 ($27.45).

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About Burberry Group

Burberry Group plc is a manufacturer, wholesaler and retailer of luxury goods. The Company also licenses third parties to manufacture and distribute products using the Burberry trademarks. The Company’s segments include retail/wholesale and licensing. The Retail/wholesale segment is engaged in the sale of luxury goods through Burberry mainline stores, concessions, outlets and digital commerce, as well as Burberry franchisees, prestige department stores globally and multi-brand specialty accounts.

Analyst Recommendations for Burberry Group (LON:BRBY)

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