(CercleFinance.com) – Burberry loses more than 2% in London, against the backdrop of a downgrade of recommendation at Stifel from ‘buy’ to ‘hold’, with a price target reduced from 1950 to 1550 pence, on the title of the luxury house which ‘lacks catalysts’ according to the broker.
‘We are still in the early days of the Daniel Lee era and the deterioration of industry trends since last September will likely make it difficult for Burberry to prove itself that investors have been waiting for,’ believes the broker.
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