Burberry: UBS neutral, but raises target price

(CercleFinance.com) - While maintaining its 'neutral' stance on Burberry shares, UBS has raised its target price from 1,000 pence to 1,300 pence (cp: 1,148 pence, -2.
4%), a new TP that represents 11% upside potential for the stock of the British upmarket clothing and accessories house.

Burberry's Q3 sales exceeded expectations, fuelling the market's enthusiasm for the new strategy, but the crucial momentum of full-price sales remains uncertain, the broker said after Friday's trading update.


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