Fashion House Burberry (BRBY.L) was this morning the top riser of the FTSE100 shares after rumours emerged of a possible bid from US cash rich firms or private equity groups.

Newspaper, The Daily Mail today published an article reporting speculative buy out proposals in advance of Burberry’s (BRBY.L) latest financial statement, due next wednesday.

The news comes on the same day that JP Morgan revised upwards its target price for Burberry (BRBY.L) from 1470p to 1560p although it maintained its NEUTRAL rating for the share. Goldman Sachs has also placed Burberry on its Conviction BUY list.

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