Burberry: Oddo raises target price
(CercleFinance.com) - Oddo believes that the luxury group's business should be robust in the last quarter.
The analyst has therefore raised his target price for the share to 2,280p (from 2,130p), although maintains an Underperform rating on it.
China should have returned to double-digit growth, with the rest of Asia resisting very well, with a return of tourism, particularly in Japan and Hong Kong and Macau, which is more than offsetting a deceleration in growth in Korea, the broker said.
The analyst believes that it could poste double-digit comparable Q4 retail sales growth, above an initial forecast of +6.5% (the Visible Alpha consensus was slightly higher at +9%, Oddo notes).
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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.
The analyst has therefore raised his target price for the share to 2,280p (from 2,130p), although maintains an Underperform rating on it.
China should have returned to double-digit growth, with the rest of Asia resisting very well, with a return of tourism, particularly in Japan and Hong Kong and Macau, which is more than offsetting a deceleration in growth in Korea, the broker said.
The analyst believes that it could poste double-digit comparable Q4 retail sales growth, above an initial forecast of +6.5% (the Visible Alpha consensus was slightly higher at +9%, Oddo notes).
Copyright (c) 2023 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.