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Pin to quick picksBurberry Share News (BRBY)

Share Price Information for Burberry (BRBY)

London Stock Exchange
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Share Price: 1,039.00
Bid: 1,038.50
Ask: 1,039.50
Change: -12.00 (-1.14%)
Spread: 1.00 (0.096%)
Open: 1,039.50
High: 1,053.50
Low: 1,035.00
Prev. Close: 1,051.00
BRBY Live PriceLast checked at -

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Bernstein bumps Burberry up to 'market perform'

Tue, 21st May 2019 15:14

(Sharecast News) - Bernstein upped its stance on shares of luxury brand Burberry to 'market perform' from 'underperform' on Tuesday, saying it sees a more balanced risk/reward following the drop in the share price last week after its full-year results.It cited three reasons why Burberry could improve top-line growth performance in its stores going forward."a) The new Riccardo Tisci collection will come to the stores over the next few quarters; b) senior management is reporting very strong consumer traction of the new styles introduced; c) 80 stores will be in the renewed format by the end of FY20E, representing circa 50% of sales."Bernstein, which left its price target at 1,780p, said self-help stories such as Burberry continue to be exposed to a "yo-yo" risk, as they rise on investors "wanting to believe" and fall on less-than-exciting updates."Therefore we see value in being realistic, tactical, and open-minded," it said, adding that it will keep its "eyes open and ears on the ground" to confirm brand momentum down the road, and act accordingly.In its preliminary results last week, Burberry posted flat underlying profit as cost cuts offset a drop in revenue. Adjusted operating profit for the year to the end of March fell 6% to £438m but excluding currency movements profit was flat.Revenue at constant exchange rates fell 1% to £2.72bn and operating costs fell 1% to £1.42bn, while pre-tax profit rose 7% to £441m.At 1600 BST, the shares were up 0.8% at 1,816.50p.
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UK earnings, trading statements calendar - next 7 days

Friday 10 November 
Allianz Technology Trust PLCQ3 Results
Wheaton Precious Metals CorpQ3 Results
Monday 13 November 
Bank of Cyprus Holdings PLCQ3 Results
British Land Co PLCHalf Year Results
Kainos Group PLCHalf Year Results
Team Internet Group PLCQ3 Results
Tuesday 14 November 
ActiveOps PLCHalf Year Results
Babcock International Group PLCHalf Year Results
Bank of Georgia Group PLCQ3 Results
Castings PLCHalf Year Results
ConvaTec Group PLCTrading Statement
DCC PLCHalf Year Results
Forterra PLCHalf Year Results
Gear4Music PLCHalf Year Results
Genel Energy PLCTrading Statement
HydrogenOne Capital Growth PLCQ3 Results
Hill & Smith PLCTrading Statement
Imperial Brands PLCFull Year Results
Informa PLCTrading Statement
Land Securities Group PLCHalf Year Results
Oxford Instruments PLCHalf Year Results
Picton Property Income LtdHalf Year Results
Renalytix PLCQ1 Results
Vesuvius PLCTrading Statement
Vodafone Group PLCHalf Year Results
Wise PLCHalf Year Results
Wednesday 15 November 
Diversified Energy Co PLCTrading Statement
Experian PLCHalf Year Results
Fuller, Smith & Turner PLCHalf Year Results
Genuit Group PLCTrading Statement
Intermediate Capital Group PLCHalf Year Results
Ninety One PLC and LtdHalf Year Results
Renold PLCHalf Year Results
SSE PLCHalf Year Results
Synthomer PLCTrading Statement
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Tullow Oil PLCTrading Statement
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Atalaya Mining PLCQ3 Results
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Burberry Group PLCHalf Year Results
Close Brothers Group PLCTrading Statement
CMC Markets PLCHalf Year Results
Crest Nicholson Holdings PLCTrading Statement
Halma PLCHalf Year Results
Great Portland Estates PLCHalf Year Results
Kier Group PLCTrading Statement
International Distributions Services PLCHalf Year Results
Investec PLC and LtdHalf Year Results
Liontrust Asset Management PLCHalf Year Results
Manolete Partners PLCHalf Year Results
Melrose Industries PLCTrading Statement
Norcros PLCHalf Year Results
Premier Foods PLCHalf Year Results
Qinetiq Group PLCHalf Year Results
Spirax-Sarco Engineering PLCTrading Statement
Syncona LtdHalf Year Results
Tatton Asset Management PLCHalf Year Results
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