Accueil > Actualité
Actualite financiere : Actualite bourse

Burberry: Jefferies downgrades to 'underperform'

(CercleFinance.com) - Jefferies has raised its target price on British luxury brand Burberry to 2,000 pence from 1,800 pence but has cut its rating from "hold" to "underperform" after the stock jumped by over 14% yesterday.


The stock has reacted to better-than-expected sales numbers and upbeat comments on the current performance of the new logo product by adding more than 1.2 million pounds in market cap, the broker noted.

"Much as we remain supporters of Burberry management strategy, we think the stock now prices in a very optimistic scenario and trades at a significant premium to peers in the absence of a very strong 2020-2021 performance", it wrote.

"Visibility is limited and the magnitude of ongoing challenges do not support this premium at this time", it added.

Copyright (c) 2019 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.
 

societes

marches

tendances

 
Qui sommes-nous ? | Nous contacter | FAQ | Mentions légales | RSS | © Copyright 2007 Cercle Finance. Tous droits réservés.
Indices et cours différés d’au moins 15 mn | Cotations boursières fournies par ABC Bourse.