MARKET TALK: Investec Reinstates Coverage Of Burberry At Buy

20th Jul 2010 11:07

1007 GMT [Dow Jones] Investec Securities reinstates coverage of Burberry (BRBY.LN) at buy with a 950p price target, up from 750p previously. Says: "With growth stocks enjoying a sharp re-rating in current markets, we believe Burberry has further to go given its attractive combination of positive earnings momentum, exposure to global growth markets, and strong cash-generative model." Adds that full ownership of brand representation in China, potentially the single largest luxury goods market, is an important step for the company. Shares +1.1% at 814p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 20, 2010 06:07 ET (10:07 GMT)