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Burberry: Stifel cuts target price

( - While maintaining its 'hold' recommendation on Burberry shares, Stifel has lowered its target price for them from 1,400 pence to 1,300 pence, in the wake of an 8% reduction in its 2024-25 EBIT estimates for the British luxury house.

"A more cautious luxury consumer behaviour makes Burberry's creative transition and brand elevation journey more challenging: we expect growth in FY25 to be skewed to 2H25".

The valuation seems undemanding, but the share is unlikely to recover until management provides the evidence of re-accelerating sales growth that investors are expecting', it adds.

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