Burberry: UBS downgrades stock
(CercleFinance.com) - UBS has downgraded Burberry shares from "neutral" to "sell", reducing its target price for them from 2285 pence to 1614 pence, with the latter now representing 16% downside potential for the British luxury house's shares.
"BRBY turnaround is at risk in a more complex sector context and amid muted reaction to the new collection", the broker summarises, warning that "Further investments may be needed".
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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.
"BRBY turnaround is at risk in a more complex sector context and amid muted reaction to the new collection", the broker summarises, warning that "Further investments may be needed".
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.