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Forgive and forget? Burberry shares rise on upgrade Friday, 5th October 2012
Photo credit: My Retail Media
Last month’s shock trading update may have knocked more than £1 billion off its share value, but it seems analysts are ready to forgive the British fashion house.
The Telegraph on Friday reports Morgan Stanley upgraded their recommendation for Burberry to “overweight” from “equal-weight”, arguing the stock was “attractive” but “not for the faint-hearted”;
"Burberry rarely looks cheap, but we see 19pc upside to base case and 60pc in our bull scenario," said analysts at Morgan Stanley.
After seeing 17.8 per cent wiped off shares in a single morning of trading in September, Burberry shares rose 1.4 per cent on news of the upgrade.
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Posted in Deals and Takeovers, fashion Tagged burberry, shares, morgan stanley, fashion, british, house, stock, trading
