Burberry Group plc (BRBY) Price Target Raised to GBX 1,775
Burberry Group plc (LON:BRBY) had its price target hoisted by Deutsche Bank AG from GBX 1,650 ($22.19) to GBX 1,775 ($23.87) in a research report sent to investors on Wednesday. The firm currently has a hold rating on the stock.
Several other analysts also recently weighed in on BRBY. HSBC Holdings plc downgraded shares of Burberry Group plc to a reduce rating and dropped their target price for the company from GBX 1,630 ($21.92) to GBX 1,580 ($21.25) in a report on Tuesday, June 6th. BNP Paribas reiterated a neutral rating and issued a GBX 1,650 ($22.19) target price on shares of Burberry Group plc in a report on Friday, June 16th. Berenberg Bank lifted their target price on shares of Burberry Group plc from GBX 1,840 ($24.74) to GBX 1,900 ($25.55) and gave the company a buy rating in a report on Tuesday, June 20th. Citigroup Inc. reissued a neutral rating and issued a GBX 1,760 ($23.67) price target on shares of Burberry Group plc in a research report on Wednesday, June 28th. Finally, Barclays PLC reissued an overweight rating and issued a GBX 1,900 ($25.55) price target on shares of Burberry Group plc in a research report on Thursday, June 29th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Burberry Group plc presently has a consensus rating of Hold and a consensus price target of GBX 1,709.80 ($22.99).
Shares of Burberry Group plc (LON BRBY) opened at 1760.00 on Wednesday. Burberry Group plc has a 12-month low of GBX 1,342.00 and a 12-month high of GBX 1,879.00. The firm’s 50-day moving average price is GBX 1,767.43 and its 200-day moving average price is GBX 1,723.52. The stock’s market cap is GBX 7.65 billion.
In related news, insider Christopher Bailey sold 174,050 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of GBX 1,797 ($24.17), for a total value of £3,127,678.50 ($4,206,130.31).
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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