ASOS upgraded by Goldman Sachs

Goldman Sachs has upgraded its investment rating on online fashion retailer ASOS (LON:ASC) to 'buy' from 'neutral', stating that it now sees the risk/reward as attractive following the recent share price weakness.

Commenting on near-term catalysts, the City heavyweight added: "Near-term, we expect ASOS to deliver 27% cFX retail sales growth at its P1 trading update (September-December 2016), underpinned by continued UK momentum (+23%) and strong International growth (+28%), primarily driven by the US."

Analysts have left their twelve-month price target unchanged at 6,200 pence per share.

At 1:46pm: (LON:ASC) ASOS Plc share price was -10.5p at 5158.5p