Asos: shares down after broker comments
(CercleFinance.com) - Shares of British online fashion retailer Asos are down over 4% on Tuesday, following negative broker comments about the stock.
In a note to clients, Liberum pointed out that Asos shares have more than tripled since its first-half results and the group's capital increase in April, despite no company specific update since.
"We fear the market has read across too positively from the very strong updates from boohoo and Zalando," the British broker said.
Liberum said that the share's performance has created "headroom for disappointment" at Asos next trading update on 23 July.
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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.
In a note to clients, Liberum pointed out that Asos shares have more than tripled since its first-half results and the group's capital increase in April, despite no company specific update since.
"We fear the market has read across too positively from the very strong updates from boohoo and Zalando," the British broker said.
Liberum said that the share's performance has created "headroom for disappointment" at Asos next trading update on 23 July.
Copyright (c) 2020 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.