Burberry Group plc (LON:BRBY) had its price objective boosted by equities research analysts at Morgan Stanley from GBX 1,495 ($20.16) to GBX 1,748 ($23.57) in a note issued to investors on Tuesday. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 0.57% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a GBX 1,700 ($22.92) price objective on shares of Burberry Group plc in a research report on Monday, July 24th. Barclays PLC reaffirmed an “overweight” rating and issued a GBX 1,900 ($25.62) price objective on shares of Burberry Group plc in a research report on Monday, May 22nd. HSBC Holdings plc cut Burberry Group plc to a “reduce” rating and lowered their price objective for the company from GBX 1,630 ($21.98) to GBX 1,580 ($21.30) in a research report on Tuesday, June 6th. Berenberg Bank upped 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 research report on Tuesday, June 20th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Burberry Group plc in a research report on Friday, July 21st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 1,703.55 ($22.97).
Shares of Burberry Group plc (LON:BRBY) opened at 1777.00 on Tuesday. Burberry Group plc has a one year low of GBX 1,307.00 and a one year high of GBX 1,879.00. The company’s 50-day moving average price is GBX 1,767.14 and its 200-day moving average price is GBX 1,723.45. The company’s market capitalization is GBX 7.73 billion.
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In related news, insider Christopher Bailey sold 174,050 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of GBX 1,797 ($24.23), for a total value of £3,127,678.50 ($4,216,905.08).
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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