MARKET TALK: Nomura Raises Burberry Price Target

1st Jul 2010 10:31

0931 GMT [Dow Jones] Nomura raises Burberry (BRBY.LN) price target price to 818p from 732p. Sees further good news to come for the company and reckons it has scope to continue increasing control over operations, particularly in Japan, where the group could unlock significant hidden value. Notes Burberry shares have enjoyed one of the largest re-ratings in the luxury sector in the last year. Adds the stock deserves to trade on a higher multiple versus history because of its significantly higher operating margin potential. Still, thinks the stock is fairly valued and keeps at neutral. Shares -1% at 754p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 01, 2010 05:31 ET (09:31 GMT)