(News Bulletin 247) – Despite a price target raised from 500 to 700 pence, Liberum reaffirms its ‘sell’ recommendation on Asos, saying its targets for improving profitability by 400 million pounds sterling ‘seem ambitious’.
“We are not convinced that Asos has sufficient consumer appeal to execute on its strategy and question the strength of its underlying ‘brands’,” the broker said in its note on the online clothing retailer. line.
“If the group can implement its strategy, the action offers significant upside potential, but in the most negative scenario, it may need to raise additional equity,” warns Liberum.
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