The Haitong Bank Raises Burberry Group plc (BRBY) Price Target to GBX 1,400

The Haitong Bank Raises Burberry Group plc (BRBY) Price Target to GBX 1,400

Burberry Group plc (LON:BRBY) had its price target upped by investment analysts at Haitong Bank from GBX 1,265 ($15.66) to GBX 1,400 ($17.33) in a research note issued on Friday. The brokerage currently has a “neutral” rating on the stock. Haitong Bank’s price target would suggest a potential downside of 6.67% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Berenberg Bank started coverage on shares of Burberry Group plc in a research report on Thursday. They issued a “buy” rating and a GBX 1,725 ($21.35) price objective for the company. Societe Generale upgraded shares of Burberry Group plc to a “hold” rating and upped their target price for the company from GBX 1,300 ($16.09) to GBX 1,505 ($18.63) in a research note on Tuesday. Deutsche Bank AG upped their target price on shares of Burberry Group plc from GBX 1,350 ($16.71) to GBX 1,475 ($18.25) and gave the company a “hold” rating in a research note on Tuesday. Jefferies Group restated a “hold” rating and issued a GBX 1,290 ($15.97) target price on shares of Burberry Group plc in a research note on Thursday, October 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a GBX 1,450 ($17.95) target price on shares of Burberry Group plc in a research note on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of GBX 1,393.48 ($17.25).

Burberry Group plc (LON:BRBY) opened at 1540.00 on Friday. The firm’s market capitalization is GBX 6.81 billion. The firm has a 50-day moving average of GBX 1,360.78 and a 200-day moving average of GBX 1,252.56. Burberry Group plc has a 1-year low of GBX 1,039.00 and a 1-year high of GBX 1,540.00.

In other Burberry Group plc news, insider Bailey,Christopher sold 18,750 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of GBX 1,352 ($16.73), for a total transaction of £253,500 ($313,737.62).

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