UBS downgraded Burberry to Sell from Neutral with a price target of 1,614 GBp, down from 2,285 GBp. The” increasingly challenging sector context,” combined with a so far “muted reaction” of the trade and consumer to the new brand aesthetics, means Burberry’s turnaround may have to be more costly to succeed, the analyst tells investors in a research note. The firm believes consensus estimates are too high.
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Read More on BURBY:
- Burberry downgraded to Sell from Neutral at UBS
- Burberry price target lowered to 2,230 GBp from 2,290 GBp at Barclays
- Burberry price target lowered to 2,200 GBp from 2,240 GBp at Deutsche Bank
- Burberry price target lowered to 2,240 GBp from 2,400 GBp at Deutsche Bank
- Burberry re-initiated with a Hold at Jefferies
