ASOS PLC

ASC: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 2,584.00	Spcx	Xdfqwqqx

Asos' Revenue Slows in the Second Half as Costs Weigh, CEO Exits but Shares Offer Value

Jelena Sokolova

Oct 11, 2021

We don’t expect to materially change our fair value estimate as Asos delivered weaker revenue but better profitability in fiscal 2021 than we expected and came up with 2022 and midterm targets that are broadly comparable with our forecasts. After losing around one half of value year to date we see shares as attractive, given the still strong potential runway for growth for the business and over 60% upside to our fair value estimate.

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