ASOS (LON:ASC) Earns "Buy" Rating from Berenberg Bank

Key Points

• Berenberg Bank reiterated a Buy rating on ASOS with a price target of GBX 600, implying roughly a 140% upside from the prior close.
• Shore Capital also restated a Buy, and consensus from analysts is a Moderate Buy with an average price target of GBX 352.67.
• Shares rose about 11.1% to GBX 250 midday, but ASOS carries heavy leverage (debt-to-equity 342.8) and a negative P/E, with a market cap near £298.6 million.

ASOS (LON:ASC - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Berenberg Bank in a report issued on Thursday,Digital Look reports. They presently have a GBX 600 price objective on the stock. Berenberg Bank's price objective points to a potential upside of 140.00% from the stock's previous close.

Separately, Shore Capital Group restated a "buy" rating on shares of ASOS in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, ASOS currently has an average rating of "Moderate Buy" and an average price target of GBX 352.67.

ASOS Stock Up 11.1%

Shares of LON:ASC traded up GBX 25 during midday trading on Thursday, reaching GBX 250. The company had a trading volume of 1,678,419 shares, compared to its average volume of 9,946,638. The company has a debt-to-equity ratio of 342.80, a current ratio of 1.02 and a quick ratio of 0.39. The stock's fifty day moving average price is GBX 243.94 and its 200-day moving average price is GBX 259.27. The stock has a market capitalization of £298.60 million, a P/E ratio of -1.00, a PEG ratio of -1.26 and a beta of 2.25. ASOS has a one year low of GBX 206.50 and a one year high of GBX 375.30.

About ASOS

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.

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