Equities analysts at Deutsche Bank see a long-term benefit to ASOS PLC (LSE:ASC)’s decision to divest the majority of its Topshop and Topman ownership to the Danish holding company of Bestseller.
ASOS made the announcement, alongside a £250 million bond refinancing to help strengthen the balance sheet, on Thursday.
Rolls-Royce Holdings PLC (LSE:RR.) is unlikely to face a “material” blow after European regulators ordered A350 engine inspections following Cathay Pacific’s incident earlier this week.
Citi analysts moved to reassure that any compensation required from the engine maker would likely be “limited,” reiterating a ‘buy’ rating a 550p share price target.
Melrose Industries PLC (LSE:MRO, OTC:MLSPF) has found a fan of sorts in US bank Morgan Stanley (NYSE:MS), which has started coverage with a 'hold' rating and a 500p price target.
In particular, Morgan Stanley (NYSE:MS) likes Melrose’s presence in the aircraft aftermarket which it says supports its view profits will be between estimates of 6-10% above consensus forecast by 2027.
Primark owner Associated British Foods PLC (LSE:ABF) faced a blow on Friday morning as Deutsche Bank wound down expectations after the firm's own warning on Thursday.
ABF’s update had shown Primark sales down on a like-for-like basis over the first half of the year, while profits from its sugar business were lower than expected.