HSBC Cuts Burberry Group (BRBY) Price Target to GBX 1,550
Burberry Group (LON:BRBY) had its target price decreased by HSBC from GBX 1,600 ($22.11) to GBX 1,550 ($21.41) in a research note issued to investors on Thursday morning. HSBC currently has a reduce rating on the stock.
BRBY has been the topic of several other reports. JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 1,720 ($23.76) target price on shares of Burberry Group in a report on Monday, January 8th. Societe Generale raised shares of Burberry Group to a buy rating and raised their target price for the company from GBX 1,770 ($24.45) to GBX 1,920 ($26.53) in a report on Friday, March 2nd. Barclays reissued an overweight rating and issued a GBX 1,900 ($26.25) target price on shares of Burberry Group in a report on Thursday, January 4th. Morgan Stanley decreased their target price on shares of Burberry Group from GBX 1,676 ($23.16) to GBX 1,600 ($22.11) and set an equal weight rating on the stock in a report on Thursday, January 18th. Finally, Credit Suisse Group reissued an outperform rating and issued a GBX 1,900 ($26.25) target price on shares of Burberry Group in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of GBX 1,699.05 ($23.47).
Burberry Group (LON BRBY) opened at GBX 1,667.50 ($23.04) on Thursday. Burberry Group has a 1-year low of GBX 1,481.50 ($20.47) and a 1-year high of GBX 2,024 ($27.96). The company has a market cap of $6,970.00 and a PE ratio of 2,382.14.
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.
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