Burberry Group (LON:BRBY) had its target price cut by equities researchers at Deutsche Bank from GBX 1,700 ($23.05) to GBX 1,625 ($22.04) in a report released on Thursday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank’s target price points to a potential upside of 1.85% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Barclays reaffirmed an “overweight” rating and set a GBX 1,800 ($24.41) target price on shares of Burberry Group in a research note on Wednesday. Bryan, Garnier & Co reaffirmed a “sell” rating on shares of Burberry Group in a research note on Friday, November 10th. Royal Bank of Canada raised their target price on Burberry Group from GBX 1,550 ($21.02) to GBX 1,600 ($21.70) and gave the stock an “underperform” rating in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. raised their target price on Burberry Group from GBX 1,620 ($21.97) to GBX 1,800 ($24.41) and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Finally, Credit Suisse Group reduced their price objective on Burberry Group from GBX 2,100 ($28.48) to GBX 1,900 ($25.77) and set an “outperform” rating for the company in a research note on Friday, November 10th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of GBX 1,705 ($23.12).
Burberry Group (BRBY) traded up GBX 7 ($0.09) during midday trading on Thursday, reaching GBX 1,595.50 ($21.64). Burberry Group has a 12 month low of GBX 1,543 ($20.92) and a 12 month high of GBX 2,024 ($27.45). The company has a market capitalization of $6,760.00 and a price-to-earnings ratio of 2,279.29.
Burberry Group Company Profile
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.
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