Credit Suisse Group Increases Burberry Group plc (BRBY) Price Target to GBX 2,000
Burberry Group plc (LON:BRBY) had its price objective upped by analysts at Credit Suisse Group from GBX 1,650 ($21.31) to GBX 2,000 ($25.83) in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 13.44% from the company’s current price.
Several other brokerages also recently weighed in on BRBY. Liberum Capital restated a “sell” rating and issued a GBX 1,350 ($17.44) target price on shares of Burberry Group plc in a research note on Thursday, May 25th. J P Morgan Chase & Co restated a “neutral” rating and issued a GBX 1,600 ($20.66) target price on shares of Burberry Group plc in a research note on Friday, June 30th. Societe Generale raised their target price on shares of Burberry Group plc from GBX 1,715 ($22.15) to GBX 1,890 ($24.41) and gave the company a “hold” rating in a research note on Monday. HSBC Holdings plc restated a “reduce” rating and issued a GBX 1,580 ($20.41) target price on shares of Burberry Group plc in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG restated a “hold” rating and issued a GBX 1,650 ($21.31) target price on shares of Burberry Group plc in a research note on Thursday, July 13th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Burberry Group plc has a consensus rating of “Hold” and a consensus target price of GBX 1,701.21 ($21.97).
Shares of Burberry Group plc (LON BRBY) traded up 0.51% during trading on Friday, reaching GBX 1772.00. 1,522,673 shares of the company were exchanged. Burberry Group plc has a 1-year low of GBX 1,228.00 and a 1-year high of GBX 1,879.00. The company’s 50-day moving average is GBX 1,752.81 and its 200 day moving average is GBX 1,719.66. The firm’s market capitalization is GBX 7.71 billion.
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In related news, insider Christopher Bailey sold 174,050 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of GBX 1,797 ($23.21), for a total transaction of £3,127,678.50 ($4,039,362.65).
About Burberry Group plc
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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