Burberry Group plc (BRBY) Now Covered by Berenberg Bank
Investment analysts at Berenberg Bank initiated coverage on shares of Burberry Group plc (LON:BRBY) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating and a GBX 1,725 ($21.35) price target on the stock. Berenberg Bank’s price objective points to a potential upside of 13.79% from the company’s current price.
Several other brokerages also recently issued reports on BRBY. Deutsche Bank AG raised their price objective on shares of 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 note on Tuesday. Societe Generale upgraded shares of Burberry Group plc to a “hold” rating and raised their price objective for the stock from GBX 1,300 ($16.09) to GBX 1,505 ($18.63) 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 research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the stock. Burberry Group plc presently has a consensus rating of “Hold” and a consensus price target of GBX 1,387.61 ($17.17).
Shares of Burberry Group plc (LON:BRBY) opened at 1516.00 on Thursday. Burberry Group plc has a 12-month low of GBX 1,039.00 and a 12-month high of GBX 1,530.00. The firm’s market cap is GBX 6.70 billion. The company has a 50 day moving average of GBX 1,358.28 and a 200-day moving average of GBX 1,250.35.
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In other news, insider Bailey,Christopher sold 18,750 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was 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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