Asos: Berenberg lowers its price target

( – Berenberg announced on Tuesday that it had lowered its target price on Asos from 1,000 to 940 pence, while renewing its buy recommendation on the stock.

In a research note, the analyst recalls that the British specialist in online ready-to-wear announced two weeks ago that it had signed a new credit facility of 275 million pounds, accompanied by a placement of shares of 75 million.

According to the intermediary, this new mode of financing ‘should offer Asos greater flexibility and allow it to continue to focus on the execution of its strategic plan ‘Driving Change’.

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