Burberry: shares fall after broker downgrade
(CercleFinance.com) - Burberry shares fell on Thursday after Berenberg downgraded the British luxury house from "buy" to "hold," after cutting its estimates for the group.
Berenberg also lowered its target price for Burberry from 2,270 pence to 1,920 pence.
Burberry shares were down 2.7% at 1,742 pence in late-morning trading on the London Stock Exchange. The shares have been flat over the past year.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Berenberg also lowered its target price for Burberry from 2,270 pence to 1,920 pence.
Burberry shares were down 2.7% at 1,742 pence in late-morning trading on the London Stock Exchange. The shares have been flat over the past year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.