Burberry price target raised to 9 GBp from 8 GBp at Telsey Advisory

Telsey Advisory raised the firm’s price target on Burberry (BURBY) to 9 GBp from 8 GBp and keeps a Market Perform rating on the shares. Expectations were moderated after the company provided a “disappointing” Q1 trading update, allowing the company to put up numbers that were better than feared, with both sales and operating loss slightly topping consensus in Q2, the analyst tells investors. Near-term visibility, however, remains challenging, the firm adds.