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Burberry: UBS reduces TP after H1 results

( - UBS maintains its "sell" rating on Burberry shares, reducing its target price from 1614 pence to 1525 pence, with the latter slightly below (-2%) the last share price of the British upmarket clothing house.

Following the disappointing H1 results, which in the broker's opinion "confirmed the difficult context for a turnaround", the broker has further reduced its estimates, continuing to see risk to the LT story.

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