MARKET TALK: Deutsche Bank Raises Burberry Group Price Target

9th Jul 2010 11:16

1016 GMT [Dow Jones] Deutsche Bank raises Burberry Group (BRBY.LN) price target to 775p from 750p. Burberry has already pointed to the positive impact of its 'April Showers' capsule collection, which represented 10-15% of store sales where sold. Deutsche adds that other industry commentary suggests there has been no deceleration in luxury trends and the brokerage thinks the market is anticipating healthy retail sales growth in 1Q. Ahead of Burberry's April-June sales report on July 13, Deutsche looks for total sales of GBP260M, up 13% year-on-year. Maintains buy recommendation. Shares +0.8% 793.5p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 09, 2010 06:16 ET (10:16 GMT)