According to Reuters, Goldman Sachs has upgraded Bulgari to ‘buy’ from ‘neutral’, with the luxury brand rising 0.5 percent.
On Bulgari, the broker says, “the company is well positioned to benefit from a normalisation of sales and would benefit from surprise from its very low base of comparison in Q3 2010. The progressive end of destocking at retailers and good cost containment efforts are also expected to help the firm in the third-quarter.”
To read more about Bulgari’s finances, go to our November 16 report: Bulgari Sales Receive 10 Percent Boost.
Burberry has also been upgraded by Goldman Sachs from ‘sell’ to ‘neutral’.
The broker says, “Burberry's returns were improving, following strong first-half figures last week, and forecasts sales to grow 8.5 percent in 2011 and 10.9 percent in 2012 estimates, both above I/B/E/S consensus.”