🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Burberry 'requires further investor patience' - Stifel

Published 03/01/2024, 15:34
© Reuters.
BURBY
-

Burberry Group (OTC:BURBY) Plc Sponsored Adr (BURBY) shares were cut to Hold from Buy at Stifel on Wednesday, with analysts lowering the firm's price target for the London-listed stock to 1,550p from 1,950p per share.

Analysts said in a note to clients that luxury fashion business Burberry is a show-me story that requires further investor patience.

Stifel believes the improvement in Burberry's turnaround and elevation journey is being held back by an adverse external environment in 2024.

"It is still early days in Daniel Lee's era and worsening sector trends since last September will likely make it tougher for Burberry to decouple from the sector trends and deliver the proof points that investors have been waiting for," analysts wrote.

Overall, Stifel views Burberry as a cheap stock that lacks catalysts for rerating and "requires further investor patience as the earnings downgrade cycle does not appear over yet."

Burberry's stock is down more than 3% Wednesday, heading into the close in London.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.