MARKET TALK: Bernstein Raises Burberry Price Target

19th Jul 2010 07:52

0652 GMT [Dow Jones] Bernstein Research raises Burberry (BRBY.LN) price target to 800p from 750p after the company announces it is to acquire its franchisee operations in China. Says this occurred sooner than expected. It notes that this move comes after a number of concerted actions have been undertaken to bring distribution under control. "The acquisition...looks like the coming of age for Burberry as a global mega-brand." It says Burberry will be even better positioned to capture rising demand in the region. Keeps at market perform. Shares closed Friday at 799.5p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 02:52 ET (06:52 GMT)

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