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Fly News Breaks for June 25, 2019
ASOMY
Jun 25, 2019 | 13:11 EDT
In a research note pre-market open, UBS analyst Olivia Townsend downgraded Asos to Neutral from Buy and lowered her price target on the shares to GBP33 from GBP35. Despite her above consensus expectations for 2019 sales growth, the analyst is more cautious on the level of margin investment required to drive this growth. Over the past 6 months, changes to pricing, promotions and newness have significantly impacted Asos' topline and margins, she added.
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