<strong>BURBERRY GROUP</strong><br />Deutsche Bank raised its target price for Burberry to 620p, with a “buy” recommendation, ahead of the retailer’s second quarter sales update tomorrow. The broker said that expectations appear to be reasonably high, but that it believes that, most significantly, excess inventory will have been cleared through.<br /><br /><strong>DUNELM GROUP<br /></strong>Investec said that the recent placing of family stock has probably sated short-term demand for Dunelm shares. But the broker said that immature retailers with a proven business model and cash in hand are thin on the ground, and that Dunelm deserves a premium rating to reflect this. It upped its price target to 350p, with a “buy” rating.<br /><br /><strong>CARLSBERG</strong><br />JP Morgan said that Carlsberg has underperformed the sector in the past month on the back of negative newsflow from Russia. The broker said that risks are increasing in Russia with no visibility on underlying market growth, a weaker pricing outlook and increasing ­­government intervention. It downgraded the stock to a “neutral” rating.