Burberry: UBS still a seller after Moncler bid

(CercleFinance.com) - In its daily roundup, UBS reports that Moncler is considering making a bid for Burberry.
Following this information, UBS reiterates its Sell rating on the stock, with an unchanged TP of 410 pence (cp: 853 pence, +5%).

According to an article published on Sunday in the online luxury goods magazine Miss Tweed, there are growing rumors in the sector that Moncler (Neutral) is considering making a bid for Burberry (Sell), given the share price's significant decline over the past year, UBS says.

Amongst the ongoing restructuring and in the absence of a clear strategy, we believe the stock should be sold with a TP of 410 pence, UBS says.


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