Credit Suisse Group AG Reaffirms Underperform Rating for Burberry Group plc (BRBY)
Burberry Group plc (LON:BRBY)‘s stock had its “underperform” rating reaffirmed by research analysts at Credit Suisse Group AG in a report released on Wednesday. They presently have a GBX 1,150 ($15.01) price objective on the stock. Credit Suisse Group AG’s target price points to a potential downside of 16.61% from the stock’s current price.
Several other analysts have also weighed in on the stock. Barclays PLC lifted their price objective on shares of Burberry Group plc from GBX 1,220 ($15.92) to GBX 1,320 ($17.23) and gave the company an “equal weight” rating in a research note on Monday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Burberry Group plc from GBX 1,380 ($18.01) to GBX 1,450 ($18.93) and gave the company a “neutral” rating in a research note on Monday, September 5th. Morgan Stanley boosted their price target on shares of Burberry Group plc from GBX 1,280 ($16.71) to GBX 1,424 ($18.59) and gave the company an “equal weight” rating in a research note on Tuesday, August 30th. BNP Paribas restated a “neutral” rating and set a GBX 1,350 ($17.62) price target on shares of Burberry Group plc in a research note on Wednesday, August 10th. Finally, Beaufort Securities restated a “hold” rating on shares of Burberry Group plc in a research note on Tuesday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of GBX 1,363.17 ($17.79).
Burberry Group plc (LON:BRBY) opened at 1379.00 on Wednesday. Burberry Group plc has a 12 month low of GBX 1,039.00 and a 12 month high of GBX 1,512.00. The company’s market capitalization is GBX 6.09 billion. The stock has a 50 day moving average of GBX 1,317.89 and a 200 day moving average of GBX 1,243.59.
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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 ($17.65), for a total transaction of £253,500 ($330,896.75).
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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