Asos: UBS upgrades stock
(CercleFinance.com) - UBS has upgraded Asos shares from neutral to buy, although has reduced its target price for them to 550 pence (from 660 pence).
"We upgrade to Buy with a 550p PT as we see initial signs of recovery from 'Driving Change' efforts," the broker says.
Asos forecasts adjusted EBIT of £40m-£60m in H2, below the consensus of £70m.
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"We upgrade to Buy with a 550p PT as we see initial signs of recovery from 'Driving Change' efforts," the broker says.
Asos forecasts adjusted EBIT of £40m-£60m in H2, below the consensus of £70m.
Copyright (c) 2023 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.