ASOS (LON:ASC) Upgraded to Buy at HSBC

ASOS (LON:ASC) was upgraded by equities researchers at HSBC to a “buy” rating in a research report issued to clients and investors on Tuesday, Borsen Zeitung reports. The firm currently has a GBX 3,615 ($47.55) price objective on the stock, up from their prior price objective of GBX 3,560 ($46.83). HSBC’s price objective would indicate a potential upside of 20.90% from the company’s current price.

A number of other analysts have also issued reports on ASC. Liberum Capital began coverage on shares of ASOS in a research note on Wednesday, October 16th. They issued a “hold” rating and a GBX 2,800 ($36.83) price target for the company. Shore Capital reiterated a “sell” rating on shares of ASOS in a research note on Friday, October 11th. Peel Hunt raised shares of ASOS to an “add” rating and raised their price objective for the stock from GBX 3,000 ($39.46) to GBX 4,000 ($52.62) in a report on Friday, October 25th. UBS Group set a GBX 3,200 ($42.09) price objective on shares of ASOS and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of ASOS in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of GBX 3,425.41 ($45.06).

ASOS stock opened at GBX 2,990 ($39.33) on Tuesday. ASOS has a 52 week low of GBX 2,033 ($26.74) and a 52 week high of GBX 4,781 ($62.89). The company has a current ratio of 0.81, a quick ratio of 0.07 and a debt-to-equity ratio of 19.95. The stock has a market cap of $2.48 billion and a P/E ratio of 101.70. The stock has a 50 day moving average of GBX 3,232.22 and a 200-day moving average of GBX 2,841.43.

In other news, insider Nick Beighton sold 3,140 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of GBX 3,459 ($45.50), for a total value of £108,612.60 ($142,873.72).

ASOS Company Profile

ASOS Plc, together with its subsidiaries, operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, and Russia. The company offers womenswear, menswear, and sportswear products. It sells approximately 85,000 branded and ASOS brand products primarily through its Website, asos.com, as well as through social media platforms and magazines.

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Analyst Recommendations for ASOS (LON:ASC)

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