Burberry Group plc (BRBY) PT Raised to GBX 1,748
Burberry Group plc (LON:BRBY) had its price objective upped by Morgan Stanley from GBX 1,495 ($20.16) to GBX 1,748 ($23.57) in a research report issued on Tuesday. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 0.57% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Berenberg Bank boosted their price objective on Burberry Group plc from GBX 1,840 ($24.81) to GBX 1,900 ($25.62) and gave the company a “buy” rating in a report on Tuesday, June 20th. Beaufort Securities reiterated a “buy” rating and issued a GBX 1,920 ($25.89) price objective on shares of Burberry Group plc in a report on Thursday, July 13th. Deutsche Bank AG boosted their price objective on Burberry Group plc from GBX 1,600 ($21.57) to GBX 1,615 ($21.77) and gave the company a “hold” rating in a report on Monday, May 22nd. 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. Finally, BNP Paribas reiterated a “neutral” rating and issued a GBX 1,650 ($22.25) price objective on shares of Burberry Group plc in a report on Friday, June 16th. Five research 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 1,703.55 ($22.97).
Burberry Group plc (LON BRBY) opened at 1756.00 on Tuesday. The company’s market cap is GBX 7.64 billion. Burberry Group plc has a 52-week low of GBX 1,324.00 and a 52-week high of GBX 1,879.00. The stock’s 50 day moving average price is GBX 1,767.43 and its 200-day moving average price is GBX 1,723.52.
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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