Burberry Group plc (BRBY) Rating Increased to Hold at Societe Generale
Burberry Group plc (LON:BRBY) was upgraded by Societe Generale to a “hold” rating in a report released on Tuesday. The brokerage presently has a GBX 1,505 ($18.63) price objective on the stock, up from their prior price objective of GBX 1,300 ($16.09). Societe Generale’s price objective indicates a potential upside of 1.76% from the company’s previous close.
Several other equities research analysts also recently weighed in on the stock. Deutsche Bank AG increased their target price on shares of Burberry Group plc from GBX 1,350 ($16.71) to GBX 1,475 ($18.25) and gave the stock a “hold” rating in a research note on Tuesday. Jefferies Group reiterated a “hold” rating and set a GBX 1,290 ($15.97) target price on shares of Burberry Group plc in a research note on Thursday, October 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 1,450 ($17.95) price target on shares of Burberry Group plc in a report on Wednesday, October 5th. BNP Paribas reissued a “neutral” rating and set a GBX 1,460 ($18.07) price target on shares of Burberry Group plc in a report on Wednesday, October 5th. Finally, Barclays PLC increased their price target on shares of Burberry Group plc from GBX 1,320 ($16.34) to GBX 1,350 ($16.71) and gave the stock an “equal weight” rating in a report on Tuesday, October 4th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Burberry Group plc has an average rating of “Hold” and an average price target of GBX 1,372.27 ($16.98).
In other news, insider Bailey,Christopher sold 18,750 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of GBX 1,352 ($16.73), for a total value of £253,500 ($313,737.62).
About Burberry Group plc
Burberry Group PLC is a United Kingdom-based manufacturer, wholesaler and retailer of luxury goods. The Company designs, produces and sells products under the Burberry brand. The Company’s product categories include women’s and men’s apparel and accessories and beauty. The Company owns distribution network consisting of: 497 directly operated stores and concessions, offline and burberry.com, a digital platform active in 11 languages, online.
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