Deutsche Bank Upgrades ASOS (ASC) to Buy

Deutsche Bank upgraded shares of ASOS (LON:ASC) to a buy rating in a research note issued to investors on Tuesday morning. They currently have GBX 7,400 ($98.94) target price on the stock, up from their prior target price of GBX 5,800 ($77.55).

A number of other research firms have also weighed in on ASC. Shore Capital reaffirmed a buy rating on shares of ASOS in a research note on Thursday, November 2nd. Barclays reissued an overweight rating on shares of ASOS in a research report on Wednesday, October 18th. Peel Hunt reissued a buy rating and set a GBX 7,000 ($93.60) price target on shares of ASOS in a research report on Friday, September 15th. Credit Suisse Group increased their price target on shares of ASOS from GBX 5,600 ($74.88) to GBX 5,725 ($76.55) and gave the company a neutral rating in a research report on Monday, November 13th. Finally, Morgan Stanley lowered shares of ASOS to an underweight rating and decreased their price target for the company from GBX 5,170 ($69.13) to GBX 5,000 ($66.85) in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. ASOS presently has an average rating of Buy and a consensus target price of GBX 6,354.47 ($84.96).

Shares of ASOS (LON:ASC) opened at GBX 6,890 ($92.12) on Tuesday. The stock has a market cap of $5,720.00 and a price-to-earnings ratio of 9,065.79. ASOS has a one year low of GBX 58.29 ($0.78) and a one year high of GBX 6,970 ($93.19).

In other ASOS news, insider Nicholas Robertson sold 150,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of GBX 5,662 ($75.71), for a total value of £8,493,000 ($11,355,796.23). Also, insider Helen Jane Ashton sold 6,081 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of GBX 5,684 ($76.00), for a total value of £345,644.04 ($462,152.75).

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ASOS Company Profile

Asos PLC is a global fashion destination for a range of things. The Company sells and offers a range of fashion-related content on ASOS.com. The Company’s segments include UK, US, EU and RoW. It sells over 85,000 branded and own-label products through localized mobile and Web experiences, delivering from its fulfilment centers in the United Kingdom, the United States, Europe and across the world.

Analyst Recommendations for ASOS (LON:ASC)

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