Haitong Bank Raises Burberry Group plc (BRBY) Price Target to GBX 1,400
Burberry Group plc (LON:BRBY) had its target price lifted by equities researchers at Haitong Bank from GBX 1,265 ($15.66) to GBX 1,400 ($17.33) in a research report issued on Friday. The brokerage currently has a “neutral” rating on the stock. Haitong Bank’s price target points to a potential downside of 6.67% from the company’s previous close.
A number of other brokerages also recently issued reports on BRBY. Berenberg Bank assumed coverage on Burberry Group plc in a research report on Thursday. They set a “buy” rating and a GBX 1,725 ($21.35) price target on the stock. Deutsche Bank AG upped their price target on 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 report on Tuesday. Societe Generale raised Burberry Group plc to a “hold” rating and upped their price target for the stock from GBX 1,300 ($16.09) to GBX 1,505 ($18.63) in a research report on Tuesday. Jefferies Group reaffirmed a “hold” rating and set a GBX 1,290 ($15.97) price target on shares of Burberry Group plc in a research report on Thursday, October 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a GBX 1,450 ($17.95) price target on shares of Burberry Group plc in a research report on Wednesday, October 5th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the company’s stock. Burberry Group plc presently has an average rating of “Hold” and an average target price of GBX 1,393.48 ($17.25).
Burberry Group plc (LON:BRBY) opened at 1540.00 on Friday. The company’s 50-day moving average price is GBX 1,360.78 and its 200 day moving average price is GBX 1,252.56. Burberry Group plc has a 52-week low of GBX 1,039.00 and a 52-week high of GBX 1,540.00. The stock’s market capitalization is GBX 6.81 billion.
In other Burberry Group plc news, insider Bailey,Christopher sold 18,750 shares of the stock in a transaction dated 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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