Burberry Group (BRBY)

Down
Share Price:
1,079.50p
Market Cap:
£3,897.11m
Change Today:
-18.50p
Sector:
Personal Goods

Berenberg starts Burberry at 'hold'

By Iain Gilbert

Date: Tuesday 05 May 2026

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg initiated coverage on luxury fashion house Burberry with a 'hold' rating and a 1,080p target price on Tuesday, as it noted the group was "not fully waterproof".
Berenberg noted that Burberry was "undergoing a strategic reset" to restore brand coherence, rebuild margins and re-establish growth. While it said early actions had addressed product and distribution mis-steps, the focus now shifts to execution.

The German bank highlighted that Burberry's luxury apparel market share has declined to 1.7%, even though the group had "returned to modest growth" in the second half of 2025, while peers such as Moncler and Prada have gained ground.

"While engagement is improving in China, with the brand re-entering the COMPASS index's top 10, Western markets remain weak and the Americas have not delivered the consistent growth achieved by peers. Distinguishing structural brand improvement from cyclical recovery will require multiple quarters, leaving execution risk skewed to the downside," said Berenberg.

The German bank, which values Burberry using a blended discounted cashflow and enterprise value-to-sales multiple, said the stock trades below its ten-year average of 2.3x, which it views as appropriate given execution risk and macro uncertainty.

"On a forward P/E basis, Burberry trades at a notable premium to the sector, 29.7x FY27E P/E versus 23.4x for the luxury average," added Berenberg. "With recovery expectations already reflected, scope for a further re-rating appears limited."





Reporting by Iain Gilbert at Sharecast.com

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Burberry Group Market Data

Currency UK Pounds
Price 1,079.50p
Change Today -18.50p
52 Week High 1,360.00p
52 Week Low 1,004.50p
Volume 887,351
Shares Issued 361.01m
Market Cap £3,897.11m

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