Burberry Group plc (BRBY) Coverage Initiated by Analysts at Berenberg Bank
Berenberg Bank assumed coverage on shares of Burberry Group plc (LON:BRBY) in a research report report published on Thursday. The firm issued a buy rating and a GBX 1,725 ($21.02) price target on the stock.
A number of other brokerages also recently weighed in on BRBY. Deutsche Bank AG raised their price objective on Burberry Group plc from GBX 1,350 ($16.45) to GBX 1,475 ($17.98) and gave the company a hold rating in a research note on Tuesday, October 11th. Societe Generale raised Burberry Group plc to a hold rating and raised their price objective for the company from GBX 1,300 ($15.84) to GBX 1,505 ($18.34) in a research note on Tuesday, October 11th. Jefferies Group reissued a hold rating and issued a GBX 1,290 ($15.72) price objective on shares of Burberry Group plc in a research note on Thursday, October 6th. JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 1,450 ($17.67) price objective on shares of Burberry Group plc in a research note on Wednesday, October 5th. Finally, BNP Paribas reissued a neutral rating and issued a GBX 1,460 ($17.79) price objective on shares of Burberry Group plc in a research note on Wednesday, October 5th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of GBX 1,388.64 ($16.92).
Shares of Burberry Group plc (LON:BRBY) opened at 1403.00 on Thursday. Burberry Group plc has a 1-year low of GBX 1,039.00 and a 1-year high of GBX 1,545.00. The company’s market capitalization is GBX 6.20 billion. The firm has a 50-day moving average price of GBX 1,372.65 and a 200-day moving average price of GBX 1,254.83.
In other news, insider Bailey,Christopher sold 18,750 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of GBX 1,352 ($16.48), for a total transaction of £253,500 ($308,957.95).
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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