HSBC Reaffirms Buy Rating for ASOS (ASC)
Several other analysts have also commented on the stock. Credit Suisse Group lowered shares of ASOS to an underperform rating and raised their price objective for the stock from GBX 5,725 ($74.81) to GBX 5,750 ($75.13) in a report on Wednesday, September 5th. Royal Bank of Canada upgraded shares of ASOS to a top pick rating in a report on Tuesday, October 2nd. Shore Capital restated a buy rating on shares of ASOS in a report on Thursday, September 27th. Peel Hunt restated a buy rating on shares of ASOS in a report on Wednesday, October 3rd. Finally, Citigroup upgraded shares of ASOS to a buy rating and set a GBX 7,000 ($91.47) price objective for the company in a report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. ASOS currently has a consensus rating of Buy and an average price target of GBX 7,203.06 ($94.12).
Shares of ASC opened at GBX 5,736 ($74.95) on Friday. ASOS has a one year low of GBX 58.29 ($0.76) and a one year high of GBX 7,770 ($101.53).
ASOS Plc, together with its subsidiaries, operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, and the Russian Federation. The company offers womenswear, menswear, and sportswear products. It sells approximately 85,000 branded and own-labeled products primarily through its Website, asos.com, as well as through social media platforms and magazines.
Further Reading: What are retained earnings?
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