Burberry price target lowered to 11 GBp from 13 GBp at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Burberry (BURBY) to 11 GBp from 13 GBp and keeps a Market Perform rating on the shares. The company’s performance remains under pressure as it aims to turn the brand around in a challenging and volatile macro environment, the analyst tells investors. While the firm is encouraged by the better-than-expected second half results, the near-term visibility remains challenging.