BURBERRY : price target lowered by Oddo BHF
Pointing to a difficult trend confirmed in Asia, it expects a very sharp decline in comparable retail for the fourth quarter to -13% (vs. -8% previously), and lowers its March 2024 EBIT by 7% (and by almost 10% for March 2025 and March 2026).
The research consultancy considers that Burberry's outlook remains difficult at this stage, between efforts in terms of costs and investments and a slowdown in the sector, and that 'the brand's place within the luxury/fashion universe is not solidly assured'.
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