Burberry: UBS upgrades stock

(CercleFinance.com) - UBS has upgraded its recommendation on Burberry shares from 'sell' to 'neutral', with a target price more than doubled from 410 pence to 975 pence, a new TP that holds 12% upside potential for the stock, the day after the British luxury house's trading update.


Burburry's new, roots-focused strategy can stabilise the business and improve sales momentum in the short term, which will be most important despite our skepticism about margins, the broker says, which therefore welcomes a "return to basics".


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.