Burberry Group (BRBY) Price Target Lowered to GBX 1,600 at Morgan Stanley
Burberry Group (LON:BRBY) had its target price cut by analysts at Morgan Stanley from GBX 1,676 ($22.73) to GBX 1,600 ($21.70) in a report released on Thursday. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 0.72% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Barclays restated an “overweight” rating and set a GBX 1,800 ($24.41) price objective on shares of Burberry Group in a research note on Wednesday. Credit Suisse Group restated an “outperform” rating and set a GBX 1,900 ($25.77) price objective on shares of Burberry Group in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and set a GBX 1,720 ($23.33) price objective on shares of Burberry Group in a research note on Thursday. Deutsche Bank reduced their price objective on Burberry Group from GBX 1,700 ($23.05) to GBX 1,625 ($22.04) and set a “hold” rating on the stock in a research note on Thursday. Finally, Beaufort Securities reduced their price objective on Burberry Group from GBX 1,980 ($26.85) to GBX 1,872 ($25.39) and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of GBX 1,694.29 ($22.98).
Burberry Group (LON BRBY) traded down GBX 30.50 ($0.41) during trading on Thursday, hitting GBX 1,588.50 ($21.54). The stock had a trading volume of 3,490,700 shares, compared to its average volume of 1,380,000. The stock has a market cap of $6,730.00 and a PE ratio of 2,269.29. Burberry Group has a 12 month low of GBX 1,543 ($20.92) and a 12 month high of GBX 2,024 ($27.45).
Burberry Group 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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