Burberry: shares fall after broker downgrade

(CercleFinance.com) - Burberry shares fell on Thursday after Berenberg downgraded the British luxury house from "buy" to "hold," after cutting its estimates for the group.


Berenberg also lowered its target price for Burberry from 2,270 pence to 1,920 pence.

Burberry shares were down 2.7% at 1,742 pence in late-morning trading on the London Stock Exchange. The shares have been flat over the past year.

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