Morgan Stanley cut shares of ASOS (LON:ASC) to an underweight rating in a report issued on Friday. They currently have GBX 5,000 ($67.29) target price on the stock, down from their previous target price of GBX 5,170 ($69.58).

Several other research analysts also recently weighed in on the company. Shore Capital restated a buy rating on shares of ASOS in a research note on Thursday, November 2nd. Deutsche Bank restated a hold rating and set a GBX 6,000 ($80.75) price target on shares of ASOS in a report on Friday, September 8th. Barclays restated an overweight rating on shares of ASOS in a report on Wednesday, October 18th. Peel Hunt restated a buy rating and set a GBX 7,000 ($94.21) price target on shares of ASOS in a report on Friday, September 15th. Finally, Credit Suisse Group increased their target price on ASOS from GBX 5,600 ($75.37) to GBX 5,725 ($77.05) and gave the stock a neutral rating in a research note on Monday, November 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of GBX 6,154.47 ($82.83).

Shares of ASOS (LON ASC) opened at GBX 6,059 ($81.55) on Friday. ASOS has a 52 week low of GBX 58.29 ($0.78) and a 52 week high of GBX 6,497 ($87.44).

In other ASOS news, insider Helen Jane Ashton sold 6,081 shares of ASOS stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of GBX 5,684 ($76.50), for a total value of £345,644.04 ($465,200.59). Also, insider Nicholas Robertson sold 150,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of GBX 5,662 ($76.20), for a total value of £8,493,000 ($11,430,686.41).

TRADEMARK VIOLATION NOTICE: “ASOS (ASC) Downgraded by Morgan Stanley” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/12/12/asos-asc-downgraded-by-morgan-stanley.html.

About ASOS

Asos PLC is a global fashion destination for a range of things. The Company sells and offers a range of fashion-related content on ASOS.com. The Company’s segments include UK, US, EU and RoW. It sells over 85,000 branded and own-label products through localized mobile and Web experiences, delivering from its fulfilment centers in the United Kingdom, the United States, Europe and across the world.

Analyst Recommendations for ASOS (LON:ASC)

Receive News & Stock Ratings for ASOS Plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ASOS Plc and related stocks with our FREE daily email newsletter.