It Seems Burberry Group plc Will Go Up. Have Big Gap Up Today

 It Seems Burberry Group plc Will Go Up. Have Big Gap Up Today

The stock of Burberry Group plc (LON:BRBY) gapped up by GBX 3.95 today and has GBX 1476.30 target or 4.00% above today’s GBX 1419.52 share price. The 6 months technical chart setup indicates low risk for the GBX 6.26B company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 1476.30 price target is reached, the company will be worth GBX 250.40 million 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 0.59% or GBX 8.48 on November 23, hitting GBX 1419.52. About 1.93 million shares traded hands. Burberry Group plc (LON:BRBY) has risen 17.93% since April 27, 2016 and is uptrending. It has outperformed by 12.60% 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. GBX 2323 is the highest target while GBX 9 is the lowest. The GBX 1449.96 average target is 2.14% above today’s (GBX 1419.52) stock price. Burberry Group PLC has been the topic of 229 analyst reports since July 31, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of BRBY in a report on Tuesday, January 19 with “Sector Performer” rating. The rating was maintained by BNP Paribas on Wednesday, July 27 with “Neutral”. The firm has “Neutral” rating by Citigroup given on Tuesday, July 12. The stock of Burberry Group plc (LON:BRBY) has “Sell” rating given on Monday, January 11 by Liberum Capital. JP Morgan maintained the stock with “Neutral” rating in Tuesday, July 12 report. The stock has “Hold” rating given by Societe Generale on Wednesday, April 20. The stock of Burberry Group plc (LON:BRBY) earned “Buy” rating by UBS on Wednesday, October 12. The stock of Burberry Group plc (LON:BRBY) earned “Hold” rating by Jefferies on Thursday, November 10. As per Wednesday, April 20, the company rating was downgraded by Goldman Sachs. BNP Paribas maintained it with “Neutral” rating and GBX 1448 target price in Thursday, January 28 report.

More important 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 Bloomberg.com published article titled: “Burberry’s Brexit Benefit Not Enough to Offset Asian Woes”, Seekingalpha.com published: “How To Take Advantage Of A Global Mess? Burberry Group Plc” on September 23, 2016. More interesting news about Burberry Group plc (LON:BRBY) was released by: Fool.Co.Uk and their article: “Time to invest in Burberry Group plc, Mulberry Group plc and Jimmy Choo plc?” with publication date: August 09, 2016.

Burberry Group plc is a manufacturer, wholesaler and retailer of luxury goods. The company has a market cap of 6.26 billion GBP. The Firm also licenses third parties to manufacture and distribute products using the Burberry trademarks. It has a 24.1 P/E ratio. The Company’s divisions include retail/wholesale and licensing.

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