MARKET TALK: Numis Expects Burberry Forecast Upgrades

21st Jul 2010 09:16

0816 GMT [Dow Jones] Numis Securities expects upgrades to earnings forecasts on Burberry (BRBY.LN) in the coming quarters. The broker says in a note that the company is set for a further profit drive. Adds: "We see little to upset the group's present earnings momentum, particularly with innovation and space growth underpinning progress. A global growth story with clear operational earnings momentum." The broker also says the stock is rightly trading at a premium. Hold rating and 715p target price. Shares +2.5% at 840p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 21, 2010 04:16 ET (08:16 GMT)