Burberry Group plc (BRBY) Now Covered by Berenberg Bank
Analysts at Berenberg Bank initiated coverage on shares of Burberry Group plc (LON:BRBY) in a note issued to investors on Thursday. The firm set a “buy” rating and a GBX 1,725 ($21.35) price target on the stock. Berenberg Bank’s target price indicates a potential upside of 13.79% from the company’s current price.
Several other equities research analysts have also commented on the stock. Societe Generale upgraded shares of Burberry Group plc to a “hold” rating and lifted their price target for the stock from GBX 1,300 ($16.09) to GBX 1,505 ($18.63) in a research note on Tuesday. Deutsche Bank AG lifted their price objective on shares of Burberry Group plc from GBX 1,350 ($16.71) to GBX 1,475 ($18.25) and gave the company a “hold” rating in a research note on Tuesday. Jefferies Group restated a “hold” rating and issued a GBX 1,290 ($15.97) price objective on shares of Burberry Group plc in a research note on Thursday, October 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a GBX 1,450 ($17.95) price objective on shares of Burberry Group plc in a research note on Wednesday, October 5th. Finally, BNP Paribas restated a “neutral” rating and issued a GBX 1,460 ($18.07) price objective on shares of Burberry Group plc in a research note on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have issued a buy rating to the company’s stock. Burberry Group plc currently has a consensus rating of “Hold” and a consensus price target of GBX 1,387.61 ($17.17).
Burberry Group plc (LON:BRBY) opened at 1516.00 on Thursday. Burberry Group plc has a 52-week low of GBX 1,039.00 and a 52-week high of GBX 1,530.00. The firm’s market cap is GBX 6.70 billion. The company’s 50 day moving average is GBX 1,358.28 and its 200 day moving average is GBX 1,250.35.
In related news, insider Bailey,Christopher sold 18,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of GBX 1,352 ($16.73), for a total transaction of £253,500 ($313,737.62).
Burberry Group plc Company Profile
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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