Haitong Bank Raises Burberry Group plc (BRBY) Price Target to GBX 1,400
Burberry Group plc (LON:BRBY) had its price target upped by investment analysts at Haitong Bank from GBX 1,265 ($15.66) to GBX 1,400 ($17.33) in a research note issued on Friday. The brokerage currently has a “neutral” rating on the stock. Haitong Bank’s price target would suggest a potential downside of 6.67% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Berenberg Bank started coverage on shares of Burberry Group plc in a research report on Thursday. They issued a “buy” rating and a GBX 1,725 ($21.35) price objective for the company. Societe Generale upgraded shares of Burberry Group plc to a “hold” rating and upped their target price for the company from GBX 1,300 ($16.09) to GBX 1,505 ($18.63) in a research note on Tuesday. Deutsche Bank AG upped their target price on shares of Burberry Group plc from GBX 1,350 ($16.71) to GBX 1,475 ($18.25) and gave the company a “hold” rating in a research note on Tuesday. Jefferies Group restated a “hold” rating and issued a GBX 1,290 ($15.97) target price on shares of Burberry Group plc in a research note on Thursday, October 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a GBX 1,450 ($17.95) target price on shares of Burberry Group plc in a research note on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock 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 firm’s market capitalization is GBX 6.81 billion. The firm has a 50-day moving average of GBX 1,360.78 and a 200-day moving average of GBX 1,252.56. Burberry Group plc has a 1-year low of GBX 1,039.00 and a 1-year high of GBX 1,540.00.
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In other Burberry Group plc news, insider Bailey,Christopher sold 18,750 shares of the firm’s 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 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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