Burberry gains as brokers raise targets ahead of Q1 results
Burberry shares rose on Wednesday as brokerages turned relatively upbeat on the British luxury brand before its first-quarter trading statement on July 18.
Jefferies and HSBC both raised their target prices for the company's shares before the results.
'Q1 sales should confirm the brand's newfound (relative) resilience,' Jefferies equity analyst James Grzinic said in a note.
Barclays said it expects retail comp sales to be down 4% in the first quarter of the 2026 financial year, improving slightly versus the fourth quarter of 2025, driven by 'easier comps and gradual brand heat improvement.'
By 10:30 a.m. GMT, Burberry shares were up 5.7% at 10.71 pounds. Shares are up 9.6% this year, compared to a 5.5% fall for the STOXX Europe Luxury 10.
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