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Burberry: Stifel reduces its target price

( - While reiterating its 'hold' recommendation on Burberry, Stifel has cut its target price from 1,300 to 1,150 pence, in the wake of EBIT estimates lowered by 18% for 2025 and 10% for 2026, following the publication of results for the 2024 financial year.

The broker points to a "difficult external picture that has seriously complicated the creative transition" of the British luxury group, as well as "painful operating leverage that has led to significant pressure on margins".

While the stock is trading on depressed multiples, Stifel believes it 'should not be upgraded until management provides evidence of re-accelerating sales growth and earnings visibility improves'.

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