Burberry: down, analyst lowers target

(CercleFinance.com) - Burberry's share price is down nearly 1.
5% on the London Stock Exchange, penalized by an analysis from UBS.

UBS confirms its sell recommendation on the stock and lowers its target price to 1000 pence (from 1099 pence), which represents a potential downside of 25%.

' Burberry's retail outlets generate around 40% of its sales and around 60% of its EBIT, but also present a risk to its brand value strategy. We see further downside risk' says UBS.

Management now expects adjusted operating profit for the year to March 30, 2024 in the range of £410 million to £460 million, below previous forecasts.

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