(News Bulletin 247) – Oddo BHF maintains its ‘underperforming’ opinion on Burberry, reflecting its ‘skepticism about the franchise’s ability to sustainably capture the dynamics of the sector’, and lowers its price target from 2280 to 2220 pence.

From the previous day’s annual results, the research department notes that the group ‘suffered the brunt of the slowdown in the United States where it had developed a lot in rather aspirational products and where it remains exposed to the wholesale channel of department stores. ‘.

According to the analyst, this publication shows a rebound for the British luxury house in mainland China “fairly below that observed by its peers”. These elements encourage it to remain cautious on the outlook for the stock and to lower its profit forecasts.

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