LONDON (ShareCast) - Brokerages have slashed their target prices for ASOS in the aftermath of a profit warning by the online fashion retailer on Tuesday, which sent shares sharply lower.
Numis, JPMorgan Cazenove, Cantor Fitzgerald and Peel Hunt have all reduced their targets for the shares.

"With no profit growth and other e-commerce stocks offering higher growth and margin potential, we see ASOS shares losing ground," said John Stevenson from Peel Hunt.

UBS has given molten metal flow engineering firm Vesuvius a double upgrade, raising its rating on the stock by two notches from 'sell' to 'buy' and lifting its forecasts above consensus.

The bank said that the positive stance is based on: "1) confidence that self-help can deliver further margin improvement […]; and 2) a more positive outlook for European steel production (not due to stronger consumption, but rather protectionism supporting the industry)."

Deutsche Bank has lifted its target prices for stocks across the UK-listed mining sector after upgrading most of its commodity price forecasts.

As part of its review, it has lifted its rating for Anglo American from 'hold' to 'buy', raising its target price from 1,650p to 2,100p, and for Antofagasta from 'sell' to 'hold' with the target raised from 730p to 820p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE