Asos: stock falls on UBS downgrade
(CercleFinance.com) - Shares in British online fashion retailer Asos are down 4.
6% at 2,711 pence this morning, after UBS downgraded the stock from "buy" to "neutral".
In a note entitled "Growth, but at what cost?" the broker also cuts its target price for the share from 3,500 pence to 3,300 pence.
"Evidence from new datasets suggests that we underestimated the level of margin investment needed to drive topline growth," UBS analysts write.
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.
6% at 2,711 pence this morning, after UBS downgraded the stock from "buy" to "neutral".
In a note entitled "Growth, but at what cost?" the broker also cuts its target price for the share from 3,500 pence to 3,300 pence.
"Evidence from new datasets suggests that we underestimated the level of margin investment needed to drive topline growth," UBS analysts write.
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.