Burberry’s Biggest Bear Sees Luxury Stock Falling to 2010 Levels

Burberry Group Plc’s biggest bear just became even more negative on the stock following Wednesday’s lacklustre results from the British luxury firm.

UBS Group AG analyst Zuzanna Pusz cut her price target to 750 pence from 971 pence, implying a decline of a third in the stock over the next 12 months, to what would be the lowest since 2010.

“The likelihood of a successful Burberry turnaround is limited in the near term,” Pusz wrote in a…