MARKET TALK: HSBC Lifts Burberry Target To 950p

21st Jul 2010 08:39

0739 GMT [Dow Jones] HSBC lifts Burberry (BRBY.LN) target to 950p from 900p following the group's GBP70M acquisition of 50 stores from its existing franchise partner in China. "There have been so many positive changes at Burberry in the past years that it looks like the brand has been through a revolution," analyst Erwan Rambourg says. Says the company's sales should outperform the luxury industry and the stock deserves to be trading at a slight premium following years of trading at a discount. Overweight rating. Shares +2.3% at 838p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 21, 2010 03:39 ET (07:39 GMT)

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