Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Bizarrely, Liberium Capital have a target of 2,300p.
"Liberum Capital stuck with its ‘hold’ rating, though it reduced its price target from £35.60 to £23.
‘The company has maintained guidance but after a slow start to the year, there still remains a lot of work to be done to achieve this’, cautioned the broker.
‘While ASOS has made significant technological and infrastructure progress over the last few years, significant cash has been burnt to achieve this and execution has been a source of disappointment historically.’
I think this is a great move and is actually more important than the trading part of the update.
Being on the FTSE makes it harder for the shorters to manipulate and they know that. No way would that 60% fall over the last year happened on the main market. More stability and less volatility going forward.
Haha, can I wait until after Thursday's trading update to answer that one? Seriously though, I would say within a year. Although there are a lot of variables; high inflation, an economic recovery and covid being the main ones. The 4 most recent Broker Ratings (which usually have a year long timesacle) have an average target price of 4450p, which would give a 100% increase from today's share price. All my own opinion of course.
@ubik_fresh It's very hard to call the absolute bottom, but I'm confident we are at or near to the bottom now. The P/e for a company growing as fast as ASC is very low.
Discipline is needed as an investor, too often I have identified a good opportunity and sold out too early and missed out. I could have doubled my money on AIG and ITV in the last couple of years if I'd hung on a bit longer. IMO, I can easily see 50% upside on ASC once the tide turns.
I think the results will be fine. They have to be roughly in line with expectations otherwise we would have seen an RNS like with Boohoo a couple of weeks ago.
My worry is the forward looking guidance, the update will no doubt reference inflation, shipping costs, rising interest rates, weak consumer spending etc in 2022. The Next update today laid these out very clearly and led to a drop on what was otherwise a great trading update. I think today's fall reflects this so fingers crossed the update will be well received.
The trading update says BEZ is still on target for a loss ratio in the mid 90s despite the catastrophe claims in Q3. GWP will be well over £4bn for the year, so FY21 profits should be over £250m. This is still underpriced.
Worth noting that Hiscox have their interims on the 3rd Nov and Lancashire Holdings on the 4th.
I suspect that HSX will have done well. We know from their recent RNS that LHE's results will be affected by large cat losses and losses in South Africa.