Asos: Berenberg cuts target price

(CercleFinance.com) - Berenberg said on Monday that it has reduced its target price for Asos shares from 6,700 pence to 6,500 pence, ahead of the fashion retailer's next investor meeting.


The broker, which reiterates its buy recommendation on the stock, points out that the 13 October meeting, the day after its annual results, is the first capital markets day that it has held since 2016.

While Berenberg believes that the sales outlook for the new FY 2021/2022 is positive, it is concerned about potential pressure on margins due to the logistics problems currently experienced by the sector.



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