European Luxury Goods Started at ‘Neutral’ by Barclays Analysts

By Julie Cruz

Dec. 11 (Bloomberg) -- European luxury goods companies were rated “neutral” in new coverage at Barclays Capital, which said they “offer unique long-term growth prospects, in our view, but current valuations leave modest upside potential to many of the stocks in the short term.”

Luxottica SpA and LVMH Moet Hennessy Louis Vuitton SA were rated “overweight” by the brokerage, while Burberry Group Plc, Swatch Group AG and Cie. Financiere Richemont SA were given “equal weight” recommendations.

Puma AG and Adidas AG, the German sporting-goods makers, were rated “underweight,” London-based analysts, led by Vicki Lee, wrote in a report today.

To contact the reporters on this story: Julie Cruz in Frankfurt at jcruz6@bloomberg.net;