Burberry"s recommendation from UBS has been upgraded from "sell" to "neutral", with the price target raised from 410 to 975 pence. This indicates a potential 12% upside for the stock.

The upgrade follows a recent trading update from the luxury brand, which has introduced a new strategy focused on its roots. UBS believes that this approach can stabilize the business and enhance sales momentum in the short term, despite concerns about profit margins. The shift is seen as a "return to basics" for Burberry, with expectations of positive results in the near future.