Burberry downgraded to Underweight from Equal Weight at Barclays

Barclays analyst Carole Madjo downgraded Burberry to Underweight from Equal Weight with a price target of 540 GBp, down from 820 GBp. The firm says the company is set to turn loss-making for the first time in the first half of 2025 as the luxury market growth continues to struggle. The Chinese economy is set to remain structurally weak and luxury sales in the Q3 could be revised down, the analyst tells investors in a research note.