ASOS plc Price Target Cut to GBX 3,700 (ASC)
Analysts at Citigroup Inc. cut their target price on shares of ASOS plc (LON:ASC) from GBX 7,000 ($117.35) to GBX 3,700 ($62.03) in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s price objective indicates a potential upside of 19.27% from the company’s current price.
A number of other firms have also recently commented on ASC. Analysts at JPMorgan Chase & Co. cut their price target on shares of ASOS plc from GBX 6,600 ($110.65) to GBX 4,250 ($71.25) in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of ASOS plc in a research note on Friday. Finally, analysts at Deutsche Bank cut their price target on shares of ASOS plc from GBX 5,800 ($97.23) to GBX 3,600 ($60.35) in a research note on Friday. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 5,040.32 ($84.50).
ASOS plc (LON:ASC) traded up 7.22% during mid-day trading on Friday, hitting GBX 3345.20. The stock had a trading volume of 1,666,027 shares. ASOS plc has a 52 week low of GBX 2846.884 and a 52 week high of GBX 7194.9995. The stock’s 50-day moving average is GBX 4269.56 and its 200-day moving average is GBX 5621.10.
ASOS Plc is a holding company. The principal activity of its subsidiary is Internet retailing. The Company’s geographical business segments include United Kingdom, United States, European Union and Rest of World.
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