Burberry Group (BRBY) Price Target Cut to GBX 1,700 by Analysts at Deutsche Bank
Burberry Group (LON:BRBY) had its price objective lowered by equities research analysts at Deutsche Bank from GBX 1,750 ($23.55) to GBX 1,700 ($22.88) in a report issued on Tuesday. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target points to a potential downside of 2.16% from the company’s previous close.
A number of other equities analysts have also issued reports on the stock. J P Morgan Chase & Co increased their target price on shares of Burberry Group from GBX 1,620 ($21.80) to GBX 1,800 ($24.23) and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,900 ($25.57) target price on shares of Burberry Group in a research report on Thursday, October 12th. Credit Suisse Group increased their target price on shares of Burberry Group from GBX 1,650 ($22.21) to GBX 2,000 ($26.92) and gave the company an “outperform” rating in a research report on Friday, September 8th. Beaufort Securities increased their target price on shares of Burberry Group from GBX 1,920 ($25.84) to GBX 1,980 ($26.65) and gave the company a “buy” rating in a research report on Friday, November 10th. Finally, Citigroup reiterated a “neutral” rating on shares of Burberry Group in a research report on Friday, November 10th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Burberry Group currently has a consensus rating of “Hold” and a consensus target price of GBX 1,714.81 ($23.08).
Shares of Burberry Group (LON:BRBY) traded up GBX 17.49 ($0.24) on Tuesday, reaching GBX 1,737.49 ($23.38). 1,380,000 shares of the company were exchanged, compared to its average volume of 2,500,000. Burberry Group has a 12-month low of GBX 1,439 ($19.37) and a 12-month high of GBX 2,024 ($27.24).
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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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