MARKET TALK: Bernstein Raises Burberry Price Target

20th Jul 2010 12:25

1125 GMT [Dow Jones] Bernstein Research raises Burberry (BRBY.LN) target price to 800p from 750p following the company's acquisition of its Chinese retail operations. Says the deal is a brilliant development and has come sooner than expected. It "looks like the coming of age for Burberry as a global mega-brand." Notes emerging markets, and China in particular, are very important in driving luxury goods growth long-term. "Having direct control of Chinese distribution is of the utmost importance and places Burberry among the selected few players that have achieved this." Keeps the stock at market perform. Shares +1.4% at 816p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 20, 2010 07:25 ET (11:25 GMT)