ASOS (ASC) Raised to Buy at Deutsche Bank

Deutsche Bank upgraded shares of ASOS (LON:ASC) to a buy rating in a report published on Tuesday. Deutsche Bank currently has GBX 7,400 ($98.94) price objective on the stock, up from their previous price objective of GBX 5,800 ($77.55).

Other equities analysts have also recently issued research reports about the stock. Shore Capital Group reaffirmed a buy rating on shares of ASOS in a research report on Thursday, November 2nd. Berenberg Bank reaffirmed a buy rating and issued a GBX 6,800 ($90.92) price target on shares of ASOS in a research report on Thursday, November 2nd. Macquarie reissued an outperform rating and set a GBX 7,000 ($93.60) target price on shares of ASOS in a research report on Thursday, October 19th. Credit Suisse Group raised shares of ASOS to a neutral rating and lifted their target price for the stock from GBX 5,300 ($70.87) to GBX 5,600 ($74.88) in a research report on Tuesday, September 19th. Finally, Barclays reissued an overweight rating on shares of ASOS in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of GBX 6,354.47 ($84.96).

ASOS (LON ASC) opened at GBX 6,814 ($91.11) on Tuesday. ASOS has a 1 year low of GBX 58.29 ($0.78) and a 1 year high of GBX 6,970 ($93.19). The firm has a market cap of $5,700.00 and a PE ratio of 8,965.79.

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

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About ASOS

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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