ASOS : EPS estimates cut by 17% for 2022-2023e following stoppage of operations in Russia and to reflect lower consumer confidence
>Target price cut to 2,100p due to stoppage of operations in Russia and lower consumer confidence – Neutral rating maintained - Following the indications from ASOS on the stoppage of its operations in Russia and Ukraine (~4% of sales and 14% of profits), we have updated our forecasts, excluding sales in Russia and Ukraine from our model. We have also adopted a slightly more cautious approach on our growth forecasts (exc. Russia/Ukraine) to reflect a likely drop in con...ASOS and its subsidiaries (together, the Group) is a global fashion retailer. The Group sells products across the world and has websites targeting the U.K., U.S., Australia, France, Germany, Spain, Italy and Russia. Co. creates and curates fashion, face + body products for every fashion-loving 20-something.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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