Goldman Sachs Group Cuts ASOS (ASC) Price Target to GBX 4,000

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ASOS (LON:ASC) had its price target reduced by Goldman Sachs Group from GBX 7,900 ($103.23) to GBX 4,000 ($52.27) in a research report report published on Wednesday. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on ASC. HSBC reiterated a buy rating on shares of ASOS in a research note on Friday, October 19th. Shore Capital reiterated a buy rating on shares of ASOS in a research note on Tuesday, October 23rd. Barclays reiterated an overweight rating on shares of ASOS in a research note on Thursday, October 18th. JPMorgan Chase & Co. reiterated an overweight rating on shares of ASOS in a research note on Thursday, October 18th. Finally, Numis Securities reiterated a buy rating and issued a GBX 8,500 ($111.07) price objective on shares of ASOS in a research note on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of GBX 5,406.26 ($70.64).

LON ASC opened at GBX 2,853 ($37.28) on Wednesday. ASOS has a 1-year low of GBX 58.29 ($0.76) and a 1-year high of GBX 7,770 ($101.53).

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

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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