ASOS Share Price Target Raised at Barclays & JP Morgan

Global financial services firms JPMorgan and Barclays have both updated price target on ASOS shares (LON: ASC), but it is not all as bullish as might seem at first glance.

Both of the raised targets fail to exceed the latest ASOS share price of 404.40p. In fact, they are each considerably to the downside, with JP Morgan’s mark of 280p trailing that of Barclays’ 330p.

JPMorgan raised its target from 250p to 280p while maintaining a ‘Neutral’ rating on the company’s shares. Barclays on the other hand hold an Underweight rating, despite moving the price target up from 310p to 330p.

Year-to-date, ASOS shares have fallen 7.29%, and hold a 52-week range between 328.84 and 456.2. With a market cap of around £482 million, ASOS stands as a prominent player within the Consumer Cyclical sector and the Internet Retail industry in particular.

Based in London, United Kingdom, ASOS Plc is an established entity in the digital retail space, offering a range of fashion products under various in-house brands such as ASOS Design, ASOS Luxe, and Topshop, among others. The company operates globally, catering to customers in the UK, EU, US, and internationally.

Founded in 2000, ASOS Plc has evolved to be more than just a retail company, also engaging in activities related to internet marketplace hosting, payment processing, and brand management services. ASOS’s corporate headquarters are located at Greater London House, London .