Goldman Sachs Group Cuts ASOS (ASC) Price Target to GBX 4,000
ASOS (LON:ASC) had its price objective cut by Goldman Sachs Group from GBX 7,900 ($103.23) to GBX 4,000 ($52.27) in a research report report published on Wednesday morning. They currently have a buy rating on the stock.
A number of other research analysts have also issued reports on the company. Peel Hunt reissued a buy rating and issued a GBX 4,000 ($52.27) target price on shares of ASOS in a report on Thursday, January 3rd. Royal Bank of Canada lowered ASOS to an outperform rating and dropped their target price for the company from GBX 7,700 ($100.61) to GBX 3,200 ($41.81) in a report on Wednesday, December 19th. UBS Group reissued a buy rating on shares of ASOS in a report on Tuesday, December 18th. Credit Suisse Group lowered ASOS to a neutral rating and dropped their target price for the company from GBX 6,000 ($78.40) to GBX 3,500 ($45.73) in a report on Tuesday, December 18th. Finally, Societe Generale dropped their price objective on ASOS from £100.41 ($131.20) to GBX 5,217 ($68.17) and set a buy rating on the stock in a report on Tuesday, December 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. ASOS currently has an average rating of Buy and an average price target of GBX 5,406.26 ($70.64).
LON:ASC opened at GBX 2,853 ($37.28) on Wednesday. ASOS has a 12-month low of GBX 58.29 ($0.76) and a 12-month 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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