(CercleFinance.com) – Oddo maintains its ‘underperformance’ rating on Burberry shares, with a price target reduced from 1800 to 1750p.
The analysis office expressed its caution for the future, even if it noted a slight improvement in the 2nd quarter.
‘We are expecting total retail growth of +5% in Q2 on a comparable basis after +1% in Q1, but we believe that the substantial improvement seen in Asia now allows us to expect growth between +5% and +10%’, believes the broker.
The analysis office examines the recent movements at the head of the group and in particular the appointment of Daniel Lee as the new creative director. Oddo also salutes this ‘willingness to breathe new life into creation’.
Nevertheless, ‘we are not convinced at this stage that the performance can be improved to the point that the group finds growth prospects in line with the tenors of soft luxury over time’, warns the analyst.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
