MARKET TALK: HSBC Upgrades ASOS To Overweight From Neutral

21st Jun 2010 07:46

0646 GMT [Dow Jones] HSBC upgrades ASOS (ASC.LN) to overweight from neutral. Says the company announces a small pretax profit beat in its final results and current trading is significantly ahead of market expectations. Says in current trading, group retail sales for the nine weeks to June 6 are up by 58%. Pushes up the price target to 1000p from 660p. Shares closed Friday at 761p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 21, 2010 02:46 ET (06:46 GMT)

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