Morgan Stanley Boosts Burberry Group plc (BRBY) Price Target to GBX 1,748
Burberry Group plc (LON:BRBY) had its target price boosted by analysts at Morgan Stanley from GBX 1,495 ($20.16) to GBX 1,748 ($23.57) in a report issued on Tuesday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 1.74% from the stock’s previous close.
BRBY has been the topic of several other research reports. Royal Bank Of Canada reiterated an “underperform” rating and issued a GBX 1,530 ($20.63) price objective on shares of Burberry Group plc in a report on Friday, June 30th. Bryan, Garnier & Co reiterated a “sell” rating on shares of Burberry Group plc in a report on Monday, September 11th. HSBC Holdings plc reiterated a “reduce” rating and issued a GBX 1,580 ($21.30) price objective on shares of Burberry Group plc in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a GBX 1,700 ($22.92) price objective on shares of Burberry Group plc in a report on Monday, July 24th. Finally, Societe Generale boosted their price objective on Burberry Group plc from GBX 1,715 ($23.12) to GBX 1,890 ($25.48) and gave the company a “hold” rating in a report on Monday, September 4th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Burberry Group plc presently has an average rating of “Hold” and an average target price of GBX 1,703.55 ($22.97).
Burberry Group plc (LON BRBY) traded up 1.02% during trading on Tuesday, hitting GBX 1779.00. The stock had a trading volume of 1,235,704 shares. Burberry Group plc has a one year low of GBX 1,324.00 and a one year high of GBX 1,879.00. The firm has a 50 day moving average of GBX 1,767.43 and a 200-day moving average of GBX 1,723.52. The company’s market cap is GBX 7.74 billion.
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In other news, insider Christopher Bailey sold 174,050 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of GBX 1,797 ($24.23), for a total transaction of £3,127,678.50 ($4,216,905.08).
Burberry Group plc Company Profile
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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