Maxim Group Releases a Buy Rating on Burberry Group

By Carrie Williams

Maxim Group analyst Tom Forte reiterated a Buy rating on Burberry Group (NASDAQ: BURBY) today and set a price target of $24. The company’s shares opened today at $20.68.

Forte commented:

“Same-store sales in the March quarter increased 2.0% compared with a 5.0% decline last year.”

According to TipRanks.com, Forte is ranked 0 out of 5 stars with an average return of -10.7% and a 34.5% success rate. Forte covers the Services sector, focusing on stocks such as Nordstrom Inc, Overstockcom, and Wayfair Inc.

Burberry Group has an analyst consensus of Moderate Buy.

Burberry Group’s market cap is currently $9.8B and has a P/E ratio of 26.08. The company has a book value ratio of 4.9826.

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Burberry Group Plc is a holding company, which designs, produces, and sells products under the Burberry brand. It operates through the Retail/Wholesale and Licensing business segment. The Retail/Wholesale segment sells luxury goods through Burberry mainline stores, concessions, outlets, and digital commerce, as well as Burberry franchisees and department stores. The Licensing business channel offers global licenses of fragrances, eyewear, timepieces and European children’s wear. The company was founded by Thomas Burberry in 1856 and is headquartered in London, the United Kingdom.