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

Key Points

• Berenberg Bank has reaffirmed a "buy" rating for ASOS, placing a target price of GBX 600, which suggests a potential upside of 125.14% from the current stock price.
• Shore Capital also restated a "buy" rating for ASOS, contributing to a consensus rating of "buy" among analysts with an average target price of GBX 487.50.
• Despite the positive ratings, ASOS's stock recently dropped by 9.0% and opened at GBX 266.50.

ASOS (LON:ASC - Get Free Report)'s stock had its "buy" rating reissued by analysts at Berenberg Bank in a report released on Tuesday,Digital Look reports. They presently have a GBX 600 target price on the stock. Berenberg Bank's price objective indicates a potential upside of 125.14% from the company's previous close.

Separately, Shore Capital restated a "buy" rating on shares of ASOS in a research note on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, ASOS currently has a consensus rating of "Buy" and an average target price of GBX 487.50.

ASOS Stock Down 9.0%

LON:ASC opened at GBX 266.50 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 1.61 and a debt-to-equity ratio of 187.55. The stock's fifty day moving average is GBX 302.25 and its two-hundred day moving average is GBX 301.07. ASOS has a 52 week low of GBX 223.20 and a 52 week high of GBX 454.20. The stock has a market capitalization of £317.63 million, a price-to-earnings ratio of -107.94, a price-to-earnings-growth ratio of -1.26 and a beta of 2.86.

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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