ASOS (OTCMKTS:ASOMY) Price Target Cut to GBX 2,000 by Analysts at Royal Bank of Canada

ASOS (OTCMKTS:ASOMYGet Rating) had its price target dropped by equities research analysts at Royal Bank of Canada from GBX 3,200 ($38.84) to GBX 2,000 ($24.27) in a research note issued to investors on Friday, The Fly reports.

A number of other research firms also recently commented on ASOMY. Societe Generale reduced their target price on ASOS from GBX 4,800 ($58.26) to GBX 4,000 ($48.55) in a report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft cut their price target on ASOS from GBX 3,850 ($46.73) to GBX 2,900 ($35.20) in a report on Thursday, April 14th. Morgan Stanley cut their price target on ASOS from GBX 3,300 ($40.05) to GBX 2,300 ($27.92) in a report on Friday, March 11th. Berenberg Bank cut their price target on ASOS from GBX 5,500 ($66.76) to GBX 4,100 ($49.76) in a report on Wednesday, April 13th. Finally, Barclays cut their price target on ASOS from GBX 2,125 ($25.79) to GBX 1,615 ($19.60) in a report on Wednesday, June 1st. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ASOS currently has an average rating of “Hold” and an average target price of $2,810.50.

OTCMKTS:ASOMY traded down $4.51 during trading hours on Friday, reaching $9.63. 37,675 shares of the stock were exchanged, compared to its average volume of 11,658. The firm has a 50 day simple moving average of $17.56 and a 200-day simple moving average of $24.07. ASOS has a 52 week low of $9.50 and a 52 week high of $72.16.

About ASOS (Get Rating)

ASOS Plc operates as an online fashion retailer worldwide. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and HIIT brands, as well as through third-party brands. It is also involved in the employer of marketing staff and payment processing businesses.

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