Asos: UBS raises target price

(CercleFinance.com) - UBS is still neutral towards the stock, but raises its target price for it to E440 (from E360).
The stock has risen by nearly 20% in one week.

Asos has done well to increase profitability and resolve balance sheet issues. We await evidence of the next step, namely growth, and remain neutral, UBS says.

The British group says it expects 2024 EBITDA to be at the top end of market forecasts. Analysts were previously expecting annual EBITDA of £20m to £75m, with an average consensus of £43m.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.