Zacks Investment Research Upgrades Burberry Group PLC (BURBY) to Buy
Burberry Group PLC (OTCMKTS:BURBY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $21.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 12.72% from the company’s current price.
According to Zacks, “Burberry Group plc is engaged in the designing, sourcing, manufacturing and marketing of luxury clothing and non-apparel accessories. The Company’s products include outerwear, fragrance and beauty products, eyewear, watches, trench coats, small leather goods, handbags, totes and mufflers, scarves, shoes, belts and jewellery. It sells through a diversified network of retail, digital, wholesale and licensing channels worldwide. Burberry Group plc is headquartered in London, the United Kingdom. “
Other research analysts also recently issued reports about the stock. RBC Capital Markets raised shares of Burberry Group PLC from an “underperform” rating to a “hold” rating in a research report on Friday, September 30th. Maxim Group dropped their target price on shares of Burberry Group PLC from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, July 6th. Citigroup Inc. reissued a “neutral” rating on shares of Burberry Group PLC in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Burberry Group PLC in a research report on Tuesday, July 12th. Finally, BNP Paribas reissued a “neutral” rating on shares of Burberry Group PLC in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.
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Burberry Group PLC (OTCMKTS:BURBY) traded up 0.89% during midday trading on Monday, hitting $18.63. 27,414 shares of the stock traded hands. The company has a 50-day moving average price of $17.69 and a 200-day moving average price of $17.15. Burberry Group PLC has a 1-year low of $13.88 and a 1-year high of $22.86. The firm has a market cap of $8.23 billion, a P/E ratio of 20.84 and a beta of 1.12.
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