Burberry's Biggest Bear Sees Luxury Stock Falling to 2010 Levels [Yahoo! Finance]
BURBERRY GROUP PLC S/ADR (BURBY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
(Bloomberg) -- Burberry Group Plc's biggest bear just became even more negative on the stock following Wednesday's lackluster results from the British luxury firm. Most Read from Bloomberg US Inflation Data Was Accidentally Released 30 Minutes Early Putin and Xi Vow to Step Up Fight to Counter US ‘Containment' Slovak Premier Fighting for Life After Assassination Attempt US Inflation Ebbs for First Time in Six Months in Relief for Fed China Considers Government Buying of Unsold Homes to Save Property Market UBS Group AG analyst Zuzanna Pusz cut her price target to 750 pence from 971 pence, implying a decline of a third in the stock over the next 12 months, to what would be the lowest since 2010. “The likelihood of a successful Burberry turnaround is limited in the near term,” Pusz wrote in a note on Thursday, reiterating her sell recommendation. The analyst pointed to Burberry's commentary on current trading, weak wholesale guidance for the first half of the current
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