Burberry: Jefferies downgrades its position

(CercleFinance.com) – Jefferies downgrades its position on Burberry from ‘hold’ to ‘underperform’ with a price target lowered by 39% to 490 pence, pointing to a ‘turbulent’ return to business for luxury goods, with sector forecasts lowered over the past month.

For its part, the broker is reducing its 2025 EBIT assumptions for the sector to levels more than 5% lower than recently updated estimates (and more than 7% lower than published consensus).

Regarding Burberry more specifically, Jefferies lowers its estimates by 15%, which it says “reflects the uncertainties arising from a brand positioning in need of recalibration.”

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