ASOS (ASC) Price Target Cut to GBX 4,500 by Analysts at HSBC
ASOS (LON:ASC) had its price target lowered by equities research analysts at HSBC from GBX 7,800 ($101.92) to GBX 4,500 ($58.80) in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. HSBC’s price objective would indicate a potential upside of 68.41% from the company’s current price.
ASC has been the subject of a number of other reports. Morgan Stanley dropped their price objective on shares of ASOS from GBX 5,000 ($65.33) to GBX 3,200 ($41.81) and set an “underweight” rating for the company in a research note on Tuesday, December 11th. Credit Suisse Group cut shares of ASOS to an “underperform” rating and lifted their price objective for the stock from GBX 5,725 ($74.81) to GBX 5,750 ($75.13) in a research note on Wednesday, September 5th. Shore Capital reissued a “buy” rating on shares of ASOS in a research note on Tuesday, December 4th. Numis Securities dropped their price objective on shares of ASOS from GBX 7,000 ($91.47) to GBX 5,000 ($65.33) and set a “buy” rating for the company in a research note on Monday. Finally, Barclays reissued an “overweight” rating on shares of ASOS in a research note on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. ASOS has a consensus rating of “Buy” and a consensus price target of GBX 5,953.63 ($77.79).
Shares of LON:ASC opened at GBX 2,672 ($34.91) on Tuesday. ASOS has a 52 week low of GBX 58.29 ($0.76) and a 52 week 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, Sweden, the Netherlands, and Russia. The company offers womenswear, menswear, and sportswear products. It sells approximately 85,000 branded and ASOS brand products primarily through its Website, asos.com, as well as through social media platforms and magazines.
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