Burberry (BRBY.L) 03-02-20
Will Burberry (BRBY.L) fall beyond the 1970p support level, or will we see a retest of 2329p? (+18%)
- The stock is near support at 1970p, now trading at 1960.5p (at time of writing).
- Whilst the past does not always repeat itself, the support level has held up well.
- From here, will buying pressure return to drive the price back to 2329p? (+18%).
- As always, be aware of news and events that can change the market’s perception of value – this can lead to key levels being broken.
- Shares -16% from 12-month highs; +15% from 12 month lows.
Latest News
27 Jan: Mainfirst has downgraded its rating on Burberry Group (BRBY) to hold (from buy).
23 Jan: RBC Capital Markets reiterates its underperform rating on Burberry Group (BRBY) and reduced the target price to 1900p (from 1930p).
23 Jan: UBS reiterates its neutral rating on Burberry Group (BRBY) and increased the target price to 2258p (from 2202p).
22 Jan: Burberry, the fashion retailer, raised its revenue expectations Q3 sales were improved by new product launches.
21 Jan: Morgan Stanley reiterates its equal weight rating on Burberry Group (BRBY) and increased the target price to 2200p (from 2000p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires