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Berenberg have launched coverage of Thomas Cook Group with a “buy” rating and a target price of 200p. The broker believes that while there are structural challenges in the tourism industry, management efforts at Thomas Cook are likely to lead to improved margins.
Cantor Fitzgerald has retained its “hold” rating for Asos, reducing the target price to 3,500p down from 5,000p. The broker stated it expected a further profit warning ahead, with lower gross margins due to increased promotional activity and the strength of sterling.