BUZZ-Burberry: HSBC cuts to "reduce" as lacks top-line visibility

** London-listed luxury group down 1.9 pct, 2nd top faller on benchmark FTSE 100

** HSBC cuts Burberry to "reduce" from "hold" as lacks top-line visibility

** Brokerage says sustainable rebound in sales growth would be only real solid booster to shareholder value -- cuts PT by 3 pct to 1,580p

** HSBC says long term requires some "brave new choices" but is uncertain new CEO Marco Gobbetti will make the tough calls -- Gobbetti was recruited in 2016 but will assume full charge only on July 5

** Less than 1 in 5 analysts covering the stock (5/29) rate "buy" -- 18 have "hold" and 6 "sell" or lower with a median PT of 1,635.75p