Asos: UBS still a buyer, but slashes target price
(CercleFinance.com) - UBS maintains its "buy" recommendation on Asos, while slashing its target price for the share from 7500 pence to 3500 pence, which implies upside potential of 15% for the British online apparel retailer.
"The Asos December warning was a shock to the system, but we continue to see margins building over the medium term," says the broker in its report entitled, "Delivery delayed, not cancelled".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"The Asos December warning was a shock to the system, but we continue to see margins building over the medium term," says the broker in its report entitled, "Delivery delayed, not cancelled".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.