ASOS (ASC) Receives Buy Rating from HSBC

HSBC reissued their buy rating on shares of ASOS (LON:ASC) in a research report released on Thursday morning.

A number of other research firms also recently issued reports on ASC. Credit Suisse Group downgraded ASOS to a neutral rating and dropped their price target for the stock from GBX 6,000 ($78.40) to GBX 3,500 ($45.73) in a research note on Tuesday, December 18th. Barclays dropped their price target on ASOS from GBX 7,500 ($98.00) to GBX 4,000 ($52.27) and set an overweight rating on the stock in a research note on Tuesday, December 18th. Societe Generale dropped their price target on ASOS from £100.41 ($131.20) to GBX 5,217 ($68.17) and set a buy rating on the stock in a research note on Tuesday, December 18th. Peel Hunt restated a buy rating on shares of ASOS in a research note on Monday, December 17th. Finally, Numis Securities dropped their price target on ASOS from GBX 7,000 ($91.47) to GBX 5,000 ($65.33) and set a buy rating on the stock in a research note on Monday, December 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of GBX 5,406.26 ($70.64).

Shares of ASC traded down GBX 37 ($0.48) during mid-day trading on Thursday, reaching GBX 2,853 ($37.28). The company’s stock had a trading volume of 748,054 shares, compared to its average volume of 293,510. ASOS has a 12-month low of GBX 58.29 ($0.76) and a 12-month high of GBX 7,770 ($101.53).

In related news, insider Adam Crozier purchased 3,750 shares of the company’s stock in a transaction on Tuesday, December 18th. The stock was bought at an average price of GBX 2,671 ($34.90) per share, with a total value of £100,162.50 ($130,880.05). Also, insider Nick Beighton sold 22,808 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of GBX 5,448 ($71.19), for a total value of £1,242,579.84 ($1,623,650.65).

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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