Burberry shares

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Burberry shares

Burberry (BRBY)

Burberry Group PLC (-)

Favourable exposure to UK market in current climate
Second test of 2016 low 1037p could be a double bottom reversal with upside potential towards 1900p
Comfortably outperforming the UK 100 index on 24 June
Resistance at the 50-day moving average
RSI broke out above 3-month resistance
BRBY currently has a dividend yield of 3.3%

Broker Consensus: 21% Buy, 65% Hold, 14% Sell

Bullish: Equita, Buy, Target 1554p, +40% (16 May)

Average Target: 1271p, +14% (24 June)

Bearish: Liberum, Sell, Target 925p, -17% (1 Jun)

N.B. All pricing and consensus data was sourced from Bloomberg on 24 June. Brokers are sure to update their recommendations in light of the current situation. Please contact us for a full, up to date rundown.

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research

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