ASOS (LON:ASC) Rating Increased to Buy at Berenberg Bank

Berenberg Bank upgraded shares of ASOS (LON:ASC) to a buy rating in a report published on Monday, Borsen Zeitung reports. The firm currently has GBX 4,200 ($55.25) price target on the stock, up from their previous price target of GBX 3,000 ($39.46).

Several other equities research analysts also recently commented on the stock. UBS Group reaffirmed a neutral rating and set a GBX 3,200 ($42.09) price objective on shares of ASOS in a report on Friday, January 24th. HSBC raised shares of ASOS to a buy rating and upped their price objective for the company from GBX 3,560 ($46.83) to GBX 3,615 ($47.55) in a report on Tuesday, December 10th. Credit Suisse Group upped their price objective on shares of ASOS from GBX 4,000 ($52.62) to GBX 4,100 ($53.93) and gave the company an outperform rating in a report on Friday, January 24th. Royal Bank of Canada set a GBX 3,900 ($51.30) price objective on shares of ASOS and gave the company a buy rating in a report on Friday, January 24th. Finally, Peel Hunt reaffirmed an add rating and set a GBX 4,000 ($52.62) price objective (up from GBX 1,000 ($13.15)) on shares of ASOS in a report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. ASOS presently has an average rating of Hold and a consensus price target of GBX 3,541.76 ($46.59).

ASC opened at GBX 3,423.41 ($45.03) on Monday. The firm has a market cap of $2.88 billion and a P/E ratio of 116.44. The firm has a 50-day moving average of GBX 3,273.56 and a 200 day moving average of GBX 2,920.20. The company has a debt-to-equity ratio of 19.95, a quick ratio of 0.07 and a current ratio of 0.81. ASOS has a fifty-two week low of GBX 2,033 ($26.74) and a fifty-two week high of GBX 4,090 ($53.80).

In other news, insider Nick Beighton purchased 1,629 shares of the stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average cost of GBX 3,060 ($40.25) per share, with a total value of £49,847.40 ($65,571.43). Also, insider Mathew Dunn sold 9,433 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of GBX 3,047 ($40.08), for a total transaction of £287,423.51 ($378,089.33).

ASOS Company Profile

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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Analyst Recommendations for ASOS (LON:ASC)

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