The stock of Burberry Group plc (LON:BRBY) gapped up by GBX 2 today and has GBX 2170.38 target or 48.00% above today’s GBX 1466.47 share price. The 8 months technical chart setup indicates low risk for the GBX 6.44 billion company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 2170.38 price target is reached, the company will be worth GBX 3.09B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock decreased 0.24% or GBX 3.53 on November 8, hitting GBX 1466.47. About 3.20M shares traded hands. Burberry Group plc (LON:BRBY) has risen 14.19% since April 11, 2016 and is uptrending. It has outperformed by 12.23% the S&P500.
Burberry Group plc (LON:BRBY) Ratings Coverage
Out of 28 analysts covering Burberry Group PLC (LON:BRBY), 7 rate it a “Buy”, 3 “Sell”, while 18 “Hold”. This means 25% are positive. Burberry Group PLC has been the topic of 223 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the shares of BRBY in a report on Monday, February 1 with “Hold” rating. Societe Generale maintained it with “Hold” rating and GBX 1750 target price in Thursday, July 23 report. Credit Suisse maintained it with “Underperform” rating and GBX 1150 target price in Wednesday, September 21 report. HSBC maintained the stock with “Buy” rating in Thursday, January 21 report. The company was maintained on Wednesday, October 7 by Main First Bank AG. Jefferies maintained it with “Hold” rating and GBX 1240 target price in Friday, April 1 report. As per Monday, October 12, the company rating was maintained by Nomura. The firm earned “Buy” rating on Monday, November 9 by Nomura. Bernstein maintained Burberry Group plc (LON:BRBY) on Friday, October 2 with “Market Perform” rating. The rating was maintained by Bernstein with “Market Perform” on Wednesday, September 16.
More recent Burberry Group plc (LON:BRBY) news were published by: Bloomberg.com which released: “Burberry Puts Trenchcoat Factory on Ice Amid Brexit Fallout” on July 14, 2016. Also Marketwatch.com published the news titled: “Burberry warns on revenue amid sales pressure” on July 13, 2016. Bloomberg.com‘s news article titled: “Burberry Falls Most in a Year as Asian Woes Erode Brexit Gain” with publication date: October 18, 2016 was also an interesting one.
Burberry Group plc is a manufacturer, wholesaler and retailer of luxury goods. The company has a market cap of 6.44 billion GBP. The Firm also licenses third parties to manufacture and distribute products using the Burberry trademarks. It has a 21.12 P/E ratio. The Company’s divisions include retail/wholesale and licensing.
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