Stifel analyst Rogerio Fujimori downgraded Burberry to Hold from Buy with a price target of 1,550 GBp, down from 1,950 GBp. The analyst sees the progress on Burberry’s turnaround and elevation journey as being held back by an adverse external environment in 2024. Burberry is a “cheap stock that lacks catalysts for rerating and requires further investor patience as the earnings downgrade cycle does not appear over yet,” the analyst tells investors in a research note.
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Read More on BURBY:
- Burberry price target lowered by 150 GBp at JPMorgan
- Burberry price target lowered by 350 GBp at Deutsche Bank
- Burberry price target lowered to 1,950 GBp from 2,200 GBp at Deutsche Bank
- Burberry price target lowered to 1,800 GBp from 2,230 GBp at Barclays
- Burberry Group (BURBY) Discloses Q1 Dividend: What Shareholders Should Know
