Asos: Credit Suisse cuts target price

(CercleFinance.com) - Credit Suisse maintains its “Outperform” rating on Asos shares, although has reduced its target price for them from 6050p to 4680p.

The broker says that the results were exposed to stronger-than-expected cyclical currents, but that Q4 sales in the UK and Europe remain "fairly encouraging".

According to the analyst, Asos should use its upcoming CMD in November to discuss the challenges it faces and outline solutions.

"Beyond the temporary supply chain issues, we see considerably fewer issues at Asos now than we did three years ago," Credit Suisse concludes.


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