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Burberry: UBS lowers target price

( - The broker confirms its sell rating on the stock, with a target price lowered to 1099 pence (from 1380 pence), representing a 15% downside potential from its current level.

"After another profit warning it's still too early to get involved", UBS says.

Management now expects adjusted operating profit for the year ending 30 March 2024 to be in £410m to £460m, below previous forecasts.

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